https://www.taxtmi.com/caselaws?id=313988 Municipal property tax may be shifted from rateable value to capital value where the statutory scheme authorises such taxation and valuation machinery, so the change in computation method does not by itself offend constitutional competence. The delegated rules, however, must stay within the parent Act: valuation may be based only on present, ascertainable attributes and the ready reckoner framework, not on future development potential such as higher FSI or TDR, so rules adopting that approach were ultra vires. The capital value rules also could not be applied retrospectively from 1 April 2010 because the enabling provisions did not authorise retrospective fiscal liability. en-us Mon, 07 Nov 2022 00:00:00 +0530 Sat, 11 May 2024 08:33:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313988 Municipal property tax may be shifted from rateable value to capital value where the statutory scheme authorises such taxation and valuation machinery, so the change in computation method does not by itself offend constitutional competence. The delegated rules, however, must stay within the parent Act: valuation may be based only on present, ascertainable attributes and the ready reckoner framework, not on future development potential such as higher FSI or TDR, so rules adopting that approach were ultra vires. The capital value rules also could not be applied retrospectively from 1 April 2010 because the enabling provisions did not authorise retrospective fiscal liability. Case-Laws Indian Laws Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313988