Supreme Court · 1977 INSC 105 · Decided 1 April 1977
Commissioner of Wealth Tax, New Delhi v. P. N. Sikand
- Court
- Supreme Court of India
- Citation
- 1977 INSC 105 · [1977] 3 S.C.R. 418
- Case number
- CIVIL APPEAL No. 1174/1974
- Decided
- 1 April 1977
- Bench
- P.N. BHAGWATI, S. MURTAZA FAZAL ALI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
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 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 property consisted of leasehold interest in the land
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