1985 (1) TMI 114

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....of assessment the WTO valued the property No. B/2/7, Rajouri Garden, New Delhi of the assessee at Rs. 1,41,500. Aggrieved by the said order the assessee took up the matter in appeal before the AAC contending that the value should be taken at Rs. 58,697 on the basis of the value determined for the asst. yr. 1971-72 in the light of s. 7(4). In the alternative it was claimed that r. 188 should be app....

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.... 4. With regard to the second ground regarding valuation of property at 28E, Kamla Nagar, Delhi, the same was fully let out to a bank. The declared value was Rs. 4,84,281 on the basis of rental method. The WTO, however, did not accept computation and he recomputed the value. In doing so he did not allow collection charges of Rs. 3,131. The WTO also applied a multiplying factor of 100/8. In doing....