Tag Archives: market value

Market value of vacant land to be taken over by Govt can not exceed compensation amount ; Supreme Court

“Whether, for the purposes of Wealth Tax Act (hereinafter referred to as the ‘Act’), the market value of the vacant land belonging to the assessee should be taken at the price which is the maximum compensation payable to the assessee under the Urban Land Ceiling Act, 1962?” Held Yes  Assessing Officer was not justified in… Read More »