Wealth-tax Act, 1957
S. 2(ea): Valuation of asset – Immoveable property – Lessee sub-leasing property for higher rent and receiving deposit- Value Of Property declared by assessee was correct fair market value as on the relevant valuation date — Amount paid by lessee was not assessable as income of assesse. [ S. 5, 7 , Wealth-tax Rules, 1957 ]