https://www.taxtmi.com/caselaws?id=55944 The tribunal remanded the property valuation issue to the AAC to determine the applicability of Rule 1BB for valuing the residential house property. The deduction of the liability amounting to Rs. 81,410 was allowed in full based on a beneficial Circular, subject to the final valuation of the property falling below Rs. 1 lakh exempt under Section 5(1)(iv) of the Wealth Tax Act. The departmental appeal was allowed, and the assessee's cross-objection was upheld for statistical purposes. en-us Fri, 13 Oct 1989 00:00:00 +0530 Tue, 30 Nov 2010 17:33:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55944 The tribunal remanded the property valuation issue to the AAC to determine the applicability of Rule 1BB for valuing the residential house property. The deduction of the liability amounting to Rs. 81,410 was allowed in full based on a beneficial Circular, subject to the final valuation of the property falling below Rs. 1 lakh exempt under Section 5(1)(iv) of the Wealth Tax Act. The departmental appeal was allowed, and the assessee's cross-objection was upheld for statistical purposes. Case-Laws Wealth-tax Fri, 13 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55944