Bengaluru: The Karnataka High Court yesterday upheld the imposition of Wealth Tax on 28 acres of land known as ‘Bangalore Palace and its appurtenant lands’ for assessment years 1999-2000 to 2004-05. The…
Bengaluru: The Karnataka High Court yesterday upheld the imposition of Wealth Tax on 28 acres of land known as ‘Bangalore Palace and its appurtenant lands’ for assessment years 1999-2000 to 2004-05.
The assessing authority had fixed Rs. 183.3 crore as Wealth Tax for the land at the rate of Rs. 1,500 per sq. ft. based on the then prevailing guidance value set by the State Government. The land is held by the daughters of the last Maharaja of Mysore Jayachamaraja Wadiyar
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