https://www.taxtmi.com/caselaws?id=34485 The Court upheld the Tribunal's decision regarding the valuation of a residential property under the Wealth Tax Act for assessment years 1987-88, 1988-89, and 1989-90. It affirmed that the freezing of valuation under Section 7(4) does not change the property's nature and that land within the property is considered part of the house. The Tribunal's direction for full exemption under Section 5(i)(iv) was supported by legal principles and past judgments. The appeal by the Revenue was dismissed, with no costs imposed. en-us Mon, 31 Aug 2009 00:00:00 +0530 Fri, 04 Sep 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34485 The Court upheld the Tribunal's decision regarding the valuation of a residential property under the Wealth Tax Act for assessment years 1987-88, 1988-89, and 1989-90. It affirmed that the freezing of valuation under Section 7(4) does not change the property's nature and that land within the property is considered part of the house. The Tribunal's direction for full exemption under Section 5(i)(iv) was supported by legal principles and past judgments. The appeal by the Revenue was dismissed, with no costs imposed. Case-Laws Wealth-tax Mon, 31 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34485