1995 (1) TMI 29 - HC - Wealth-tax

Summary

The High Court of Rajasthan addressed questions regarding the valuation of property for wealth tax purposes under the Rajasthan Urban Property Act. The court ruled that the property value should not be restricted to Rs. 3 lakhs and sent the matter back to the Tribunal for further consideration. The decision favored the Revenue and directed the Tribunal to reevaluate the property valuation based on the court's observations.