1983 (2) TMI 91

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....ding belonging to the assessee known as Union Bank of India building. 2. The asst. yr. Involved is 1978-79. Union Bank of India building is a commercial building and wholly tenanted and net ALV of the building in question is Rs. 29,280 as per revenue. The assessee in the course of assessment proceedings had got the said building valued as per land and building method at a figure of Rs. 1,76,924....

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....d have been Rs. 1,800 being calculated @ 6% as provided under the IT Act, and the same, according to him, would work out to Rs. 1,800. He placed his working on the net ALV at Rs. 28,200 which finds place on the assessee's compilation at page 24. He submitted that the cases of commercial buildings are not wanting where valuation cell itself has adopted multiplier of 10 and in that regard he placed ....