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1982 (11) TMI 69 - AT - Wealth-tax

The appeal was regarding the valuation of a house property in a commercial complex in Ludhiana. The WTO had valued it at Rs. 2,32,781 using a multiple of 17, which the AAC confirmed. The ITAT directed the WTO to use a multiple of 12 based on previous decisions for similar properties in the area. The appeal was allowed.

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