( 1 ) IN this case we are concerned with valuation of certain property under the Wealth-tax Act, 1957. This relates to the assessment years 1962-63 to 1964-65. The problem is regarding the valuation of half share of the house property situated and lying at No. 2, Justice Chandra Madhab Road, Calcutta, for the purpose of computation of net wealth of the assessee under the Wealth-tax Act, 1957. The assessee is the owner of undivided half share of the aforesaid property, the other half being owned by his brother. A. N. Bose. It is recorded in the order of the Tribunal that the property had not been partitioned between the co-owners. The property waft let out on lease for 15 years with effect from the 1st of August, 1950, to the 31st July, 1965, to India Automobiles on a monthly rent of Rs. 7,500. It is stated that there was an option for a further term of five years. According to the terms of the lease the lessors were entitled to receive Rs. 90,000 per annum inclusive of municipal taxes amounting to Rs. 4,878. 16 per annum. There was an option for renewal of the lease. In the wealth-tax returns for the aforesaid years the assessee had shown the valuation of t