https://www.taxtmi.com/caselaws?id=61249 A wholly tenanted commercial building was held outside Rule 1BB of the Wealth-tax Rules, 1957, because that rule applies only to a house used wholly or mainly for residential purposes. The valuation therefore had to be made on commercial capitalisation principles, not residential valuation methodology. On the stated facts, net annual letting value was taken at Rs. 28,200 after collection charges, and capitalisation at 10% was treated as appropriate. The resulting valuation was Rs. 2,82,000, replacing the higher figure adopted by the appellate authority. en-us Fri, 04 Feb 1983 00:00:00 +0530 Tue, 11 Jan 2011 14:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61249 A wholly tenanted commercial building was held outside Rule 1BB of the Wealth-tax Rules, 1957, because that rule applies only to a house used wholly or mainly for residential purposes. The valuation therefore had to be made on commercial capitalisation principles, not residential valuation methodology. On the stated facts, net annual letting value was taken at Rs. 28,200 after collection charges, and capitalisation at 10% was treated as appropriate. The resulting valuation was Rs. 2,82,000, replacing the higher figure adopted by the appellate authority. Case-Laws Wealth-tax Fri, 04 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61249