said property as immovable property and valued it on rent capitalization method. In the impugned assessment order the AO however, held that since the land ... only, in the wealth-tax assessments value was assessed on rent capitalization method at Rs. 2,40,612. He stated that in all the past
various methods giving different valuation. As per P/E Ratio method, the value of their holding came to Rs. 78 lacs. On Income Capitalization Method
completing the assessment, correct determination of the capital balances based on proper method of accounting is essential. The capital balances reflected in the books ... assessee followed the method of not incorporating the same for the purpose of apportionment of profit to the capitals of the partners. He also submitted
payment of premium is one of the recognized methods of acquiring the property. The assessee, therefore, capitalized the amounts in its books of account
required to be capitalized and could not be allowed as a deduction even going by the assessee's method of accounting.
3. Briefly stated
Kaul v. Services III Deptt., Govt. of NCT of Delhi and Ors.) wherein, inter alia, it was held:
Therefore, in order to maintain elegant ... addressed to Secretary, Education Department, Government of NCT of Delhi & pointed out that Govt. of NCT of Delhi was advised to file an appeal
asset;
(ii) Depreciation shall be calculated annually, based on straight line method over the useful life of the asset and at the rates prescribed ... asset. The historical capital cost of the asset shall include additional capitalization on account of Foreign Exchange Rate Variation up to 31.3.2004 already allowed
Total 144551 100% 127025 100%
51. Since Net Fixed Assets method is being adopted in the case of NLC Projects, actual source of funding would ... FERV
Increase/Decrease due 0 0 0
to Additional
Capitalization
Closing Balance 14377 13652 12927
Average 14739 14014 13290
Rate of Return
Supervisors Welfare Association ... vs Government Of Nct Of Delhi Through Chief ... on 12 September, 2007
ORDER
V.K. Bali, J. (Chairman)
1. Supervisors Welfare Association ... negate the right of the members of the Association for promotion. The method of resorting to direct recruitment in preference to promotion is stated
calculations is as under:
As on 15.8.2005
As on 1.4.2006
Capitalized Gross black claimed by the petitioner as per
150695.41
279257.77
Liabilities included in above ... seen that the petitioner has adopted FIFO method for repayment of loan. The Commission, in its previous orders has uniformly followed the average method
