Supreme Court Upholds Land and Building Method for Cinema Valuation in Wealth Tax Assessment (October 13, 2017)

/ A.K. Sikri, Ashok Bhushan, Judges, Tax Law, Taxation, Wealth Tax Act, 1957, Wealth Tax Act, 1957 with Section 16A, Wealth Tax Act, 1957 with Section 7, Wealth Tax Assessment

Date of the Judgment: October 13, 2017 Citation: (2017) INSC 939 Judges: A.K. Sikri, J., Ashok Bhushan, J. When assessing wealth tax, how should a cinema building be valued? Should it be based on its income or the value of the land and building? The Supreme Court of India recently addressed this question, clarifying the […]

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