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2013 (4) TMI 152 - HC - Wealth-taxCo-owners - Valuation as per Rule 1-BB of Wealth Tax Rules, 1957 - valuations of residential house, kitchen, servants' quarters, garages, godown and cowshed at Sukhbir Sinha Park - Held that:- In view of the decision of Apex Court in the case of Commissioner of Wealth Tax vs. Sharvan Kumar Swarup and Sons(1994 (9) TMI 2 - SUPREME Court ) decided in favor of assessee. Rule 1BB is essentially a rule of evidence as to the choice of one of the well-accepted methods of valuation in respect of certain kinds of properties with a view to achieving uniformity in valuation and avoiding disparate valuations resulting from application of different methods of valuation respecting properties of a similar nature and character.
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