Supreme Court of India
Commissioner of Wealth Tax, New Delhi v. P. N. Sikand
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From the headnote
Wealth Tax Act. 1957 (Act 27 of 1957)-S. 7 rlw ss. i(e)(m), 3-Valuation of the hase-hold interest, when attached with a restraint or disadvantage "Net wealth" in s. 2(m)-Whetlzer 50% of unearned increase "payable" to the lessor as per the agreement deductible out of the valuation. The respondent an assessee to wealth tax as an individual, in the assessment for the assessment year 1968-69, valued his property situate on plot No. 12, Block 39 Kautilya M~rg, Chanakyapuri in his return of net wealth @ Rs. 4,52,000 as against the value of Rs. 6,00,000 shown by him in_ the previous years. The
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