1979 (5) TMI 64 - AT - Wealth-tax

Summary

The appeal concerns the valuation of a 14 cents vacant site in Coimbatore town for wealth-tax assessment. Assessee valued it at Rs. 1,740 per cent, while WTO valued it at Rs. 3,000 per cent. Tribunal decided to adopt a value of Rs. 2,500 per cent for the site in question, allowing the appeal in part. The assessment is to be amended accordingly.