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Wealth tax Case Laws


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Showing 1 to 15 of 3315 Records

    2014 (3) TMI 410 - ALLAHABAD HIGH COURT

    Commissioner of Wealth Tax (Appeals) Versus Deepak Verma

    Deletion of penalty U/s. 18(1)(c) of the W.T. Act - Voluntary filing of particulars - Validity of tribunals order - Held that:- The Tribunal has furnished reasons for deletion of the penalty. The Tribunal has noted that the assessee had adopted the ......


    The Commissioner of Wealth Tax Versus The Trustees of HEH the Nizams Jewellery Trust Rep. Sb. Zaheeda Begum Fund

    Valuation of assets under Wealth tax - Whether Tribunal was justified in Fixing the value of the beneficial interest in the corpus at 50% of the value fixed by the valuer on the alleged grounds of uncertainties, hazards and risks of litigation, etc.? ......

    2014 (2) TMI 961 - ALLAHABAD HIGH COURT

    The Commissioner of Wealth Tax Versus Mr. Kishan Lal

    Valuation of the right to receive compensation - whether the value of enhanced compensation awarded to the assessee in includible under wealth tax assessment - Held that:- Following the decision of Honble Supreme Court in the case of CIT vs. Ghansh ......

    2014 (1) TMI 516 - ALLAHABAD HIGH COURT

    Shri Sri Chand Jain HUF Versus Commissioner of Wealth Tax & Others

    Liability to wealth tax - whether the grove land situate in urban area on which no construction was permissible would come within the expression of urban land under Section 2 (b) of the Wealth Tax Act 1957 - Held that:- without disclosing the fact ......

    2014 (1) TMI 461 - PUNJAB & HARYANA HIGH COURT

    Hans Raj (HUF) Versus The Commissioner of Wealth Tax, Patiala

    Jurisdiction under Section 18-B - Imposition of penalty - Deposit of wealth tax after due date - Held that:- A perusal of Section 18B of the 1957 Act would reveal that it commences with a non-obstante clause thereby indicating that while considering ......

    2014 (1) TMI 415 - CALCUTTA HIGH COURT

    Indrajit Banerjee Versus Commissioner of Wealth Tax -IX & Another

    Penalty under section 18(1)(c) - Tribunal Upheld penalty but reduced the amount - Prior approval of the requisite authority - Valuation of immovable property - Held that:- Section 7 of the Wealth Tax Act is emphatic which provides that valuation shal ......

    2014 (1) TMI 317 - ITAT HYDERABAD


    Valuation of property - Enhancement in valuation - Land converted from small scale industrial use to 20% residential use - Whether converted land is liable for wealth tax - Held that:- there is no need to tax 20% of the property as taxable asset. Adm ......

    2013 (11) TMI 656 - MADRAS HIGH COURT

    Commissioner of Income Tax-III Versus M/s. Express Newspapers Ltd

    Whether assessee is not assessable to Wealth Tax - Is assessee is a company in which the public is substantially interested - Assessee is a subsidiary of M/s.Ace Investments Private Limited, which held 100% shares in the assessee company. The shareho ......

    2013 (11) TMI 406 - ITAT KOLKATA

    Deputy Commissioner of Income Tax (O. SD.) Versus M/s. HSIL Limited

    Factory land to be covered under the definition of asset u/s 2(ea) of the Wealth tax act – Held that:- Scope of section 2(ea), does not include ‘urban land’ but once the land so held is part of the industrial undertaking or factory it ceases to have ......

    2013 (10) TMI 1277 - ITAT MUMBAI


    Business premises let out - Whether assessable as assets under section 2(ea) of Wealth tax or not - Held that:- The premises were not occupied by the assessee for the purpose of business or profession . The rental income from letting out of the prope ......

    2013 (9) TMI 957 - GUJARAT HIGH COURT

    Commissioner of Wealth Tax Versus Vasumatiben Chhaganlal Virani

    Property in Commercial Area u/s 2(ea) Explanation 5(1) – Exclusion of Value of Property – Net Wealth - Whether the Tribunal was right in law and in fact in holding that the property of the assessee in commercial area let out falls under the exceptio ......

    2013 (9) TMI 716 - ITAT AMRITSAR

    Bawa Yadwinder Singh Versus Wealth Tax Officer

    Treatment of Land under wealth tax act – Agricultural Or Urban Land - Disallowance of Exemption - Definition of Urban Land u/s 2(ea) - Retrospective Amendment - Whether the CWT (Appeals) erred in dismissing the appeal and confirming the order of the ......

    2013 (9) TMI 185 - MADRAS HIGH COURT

    Commissioner of Wealth Tax Versus M/s. Southern Roadways Ltd.

    Valuation of Property – Nature of Wealth Tax Payable - Whether the Tribunal was right in directing the AO to value the properties for the A.Y. 1995-96 to 1998-99 and in holding that wealth tax payable by the assessee was to be treated as debt and the ......

    2013 (9) TMI 148 - PUNJAB & HARYANA HIGH COURT

    Shrimati Prem Lata Versus The Commissioner of Wealth Tax

    Jurisdiction u/s 18B - Power to reduce or waive penalty - Whether the Commissioner of Wealth Tax had exercised jurisdiction in accordance with parameters set out in Section 18B of the Wealth Tax Act - Held that:- A perusal of the order revealed that ......

    2013 (9) TMI 72 - DELHI HIGH COURT


    Self Occupied Property or commercial property – Valuation u/s 7(4) of the Wealth Tax Act - AO came to the conclusion that the petitioner assesee had ceased to be in self occupation after entering into collaboration agreement with Ansal Properties & I ......

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