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2005 (10) TMI 71 - HC - Wealth-taxValuing the Asset (cold storage) – method of valuation - - "Whether, Tribunal was justified in applying income capitalization method on average profit for three years in valuing the cold storage in dispute and also holding that the book value of the assets is to be taken into consideration and capital in the firm is not to be added back separately?" - we may place on record that none of the standing counsel could show us anything to take a different view than taken by the Tribunal if the valuation of the cold storage has to be done by adopting income capitalization method. - We, therefore, reframe the question of law referred to us in the following manner: "Whether Tribunal was justified in adopting the income capitalization method to value the cold storage?" - Accordingly, we answer the reframed question in the negative, i.e., in favour of the Revenue and against the assessee
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