1991 (4) TMI 109 - HC - Wealth-tax

Summary

The High Court of Kerala held that rule 1BB of the Wealth-tax Rules, 1957 was not mandatory for determining the value of residential property for assessment years 1970-71 to 1975-76. The judgment was delivered by Judge T. L. VISWANATHA IYER. The court answered the question in the negative, against the assessee. The judgment will be communicated to the Income-tax Appellate Tribunal, Cochin Bench.