https://www.taxtmi.com/caselaws?id=59985 The Appellate Tribunal ITAT CALCUTTA-A affirmed the valuation of the cinema building "Radhashree" for wealth tax purposes as determined by the AAC. Despite arguments by the departmental valuer emphasizing market value over cost, the Tribunal upheld the AAC's valuation, considering the reconstruction and depreciation of the building. The judgment highlights the subjective nature of valuation and the need to assess all relevant factors in determining property value for taxation. The appeals were dismissed, and the AAC's valuation was upheld by the Tribunal. en-us Mon, 02 Apr 1984 00:00:00 +0530 Mon, 03 Jan 2011 11:42:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59985 The Appellate Tribunal ITAT CALCUTTA-A affirmed the valuation of the cinema building "Radhashree" for wealth tax purposes as determined by the AAC. Despite arguments by the departmental valuer emphasizing market value over cost, the Tribunal upheld the AAC's valuation, considering the reconstruction and depreciation of the building. The judgment highlights the subjective nature of valuation and the need to assess all relevant factors in determining property value for taxation. The appeals were dismissed, and the AAC's valuation was upheld by the Tribunal. Case-Laws Wealth-tax Mon, 02 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59985