https://www.taxtmi.com/caselaws?id=59300 The Tribunal partially allowed the appeal, holding that the benefit of Section 7(4) of the Wealth Tax Act should apply to the entire property, not just the constructed area. The valuation was adjusted based on the property's location, amenities, and development potential, considering Development Control Rules for commercial zones. The appellant's request for an additional ground for valuation under Rule 1BB was rejected. The Tribunal upheld the previously accepted valuation amount for all relevant assessment years, emphasizing justice and adherence to legal provisions in wealth tax assessment. en-us Tue, 04 Oct 1988 00:00:00 +0530 Mon, 27 Dec 2010 17:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59300 The Tribunal partially allowed the appeal, holding that the benefit of Section 7(4) of the Wealth Tax Act should apply to the entire property, not just the constructed area. The valuation was adjusted based on the property's location, amenities, and development potential, considering Development Control Rules for commercial zones. The appellant's request for an additional ground for valuation under Rule 1BB was rejected. The Tribunal upheld the previously accepted valuation amount for all relevant assessment years, emphasizing justice and adherence to legal provisions in wealth tax assessment. Case-Laws Wealth-tax Tue, 04 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59300