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2018 (5) TMI 2 - MADRAS HIGH COURTDetermining the market value of the property under wealth Tax - whether only actual rent received should be taken without including the charges collected separately towards service and maintenance? - whether amenities do not form part of the rent for the purpose of valuing the property under Wealth Tax Act? - Held that:- On a perusal of the materials placed before this Court, we are prima facie satisfied that both the Appellate Authority as well as the ITAT have gone by the orders in the assessee's own case for the earlier AY 1984-1985 and 1985-86, where, the present re-framed substantial questions of law were not the issue in those years. For such reasons, we are convinced that the matter should be remanded to the CWT (A) for fresh consideration on merits and in accordance with law. Tax Case Appeal is allowed, the impugned order is set aside, and the matter is remanded to the CWT (A) for fresh consideration to decide the following two issues along with the facts and circumstances of the case after notice to the assessee:- i) Whether for the purpose of determining the market value of the property under wealth Tax only actual rent received should be taken without including the charges collected separately towards service and maintenance? ii) Whether amenities do not form part of the rent for the purpose of valuing the property under Wealth Tax Act?
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