https://www.taxtmi.com/caselaws?id=56895 Valuation of let-out property for wealth-tax purposes should be based on income-capitalisation principles using the applicable all-India valuation norms, not State rent-control mechanics. The note treats deductions for repairs and collection charges as part of reasonable valuation methodology, and indicates that a capitalisation multiple must be supported by material; an earlier accepted multiple may be preferred where no change in yield conditions is shown. It also recognises that joint ownership may justify a discount in value and that expenditure attributable to the property's expected yield, such as chowkidar and electricity costs, may be relevant in valuation. en-us Tue, 22 Sep 1981 00:00:00 +0530 Tue, 07 Dec 2010 12:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56895 Valuation of let-out property for wealth-tax purposes should be based on income-capitalisation principles using the applicable all-India valuation norms, not State rent-control mechanics. The note treats deductions for repairs and collection charges as part of reasonable valuation methodology, and indicates that a capitalisation multiple must be supported by material; an earlier accepted multiple may be preferred where no change in yield conditions is shown. It also recognises that joint ownership may justify a discount in value and that expenditure attributable to the property's expected yield, such as chowkidar and electricity costs, may be relevant in valuation. Case-Laws Wealth-tax Tue, 22 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56895