https://www.taxtmi.com/caselaws?id=55945 The court held that Rule 1BB and Section 7(4) are applicable to determine the fair market value of the property. The portion of land already handed over to buyers should be valued separately. The remaining part, exclusively used by the assessee, can be valued as per Rule 1BB or Section 7(4) based on conditions. The case was remanded to the CWT(A) to assess the property's fair market value in accordance with the court's directions. The appeal was partly allowed. en-us Mon, 11 Dec 1989 00:00:00 +0530 Tue, 30 Nov 2010 17:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55945 The court held that Rule 1BB and Section 7(4) are applicable to determine the fair market value of the property. The portion of land already handed over to buyers should be valued separately. The remaining part, exclusively used by the assessee, can be valued as per Rule 1BB or Section 7(4) based on conditions. The case was remanded to the CWT(A) to assess the property's fair market value in accordance with the court's directions. The appeal was partly allowed. Case-Laws Wealth-tax Mon, 11 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55945