https://www.taxtmi.com/caselaws?id=58496 The tribunal upheld the valuation of Floor Space Index (FSI) by the Wealth Tax Officer at Rs. 30 per sq. ft., considering the contributions made by the assessee to other firms and prevailing land rates. The tribunal supported the valuation method of the WTO, rejecting the varying rates assigned by the assessee for different portions of FSI. Additionally, a 25% deduction was allowed for restrictions related to FSI imposed by the Bombay Municipal Corporation, resulting in an adjusted FSI value of Rs. 22.50 per sq. ft. The appeal was partially allowed in favor of the assessee. en-us Wed, 23 Apr 1986 00:00:00 +0530 Mon, 20 Dec 2010 12:31:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58496 The tribunal upheld the valuation of Floor Space Index (FSI) by the Wealth Tax Officer at Rs. 30 per sq. ft., considering the contributions made by the assessee to other firms and prevailing land rates. The tribunal supported the valuation method of the WTO, rejecting the varying rates assigned by the assessee for different portions of FSI. Additionally, a 25% deduction was allowed for restrictions related to FSI imposed by the Bombay Municipal Corporation, resulting in an adjusted FSI value of Rs. 22.50 per sq. ft. The appeal was partially allowed in favor of the assessee. Case-Laws Wealth-tax Wed, 23 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58496