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Wealth tax Case Laws


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Showing 1 to 15 of 3321 Records

    2014 (10) TMI 435 - ITAT MUMBAI

    ST. Holding Pvt. Ltd. Versus Assistant Commissioner of Wealth Tax

    Valuation of property - Section 2(ea) of Wealth Tax Act, 1957 - whether security taken for lease of asset would be treated as debt - Held that:- a security deposit taken by the assessee-lessor leads to an inflow of funds with it. He is thus without ......


    The Commissioner of Wealth Tax, Andhra Pradesh-I, Hyderabad Versus Trustees of Prince Moazam Jah Trust, Hyderabad

    Determination of share of beneficiaries in a trust for the purpose of wealth tax - Applicability of section 21(4) - Whether the Tribunal is correct in holding that the Trust is a specific one and that the beneficiaries are known and their shares are ......

    2014 (8) TMI 768 - ITAT MUMBAI

    WTO-8(3) (2), Mumbai Versus M/s. SN. Desai Hospitalities & Developers Pvt. Ltd.

    Deletion the value of the land for Wealth Tax - Exempt u/s 2(2ea)(ii) - Whether CWT(A) erred in directing the AO to delete the value of the land for Wealth Tax purposes as being exempt ujs. 2(2ea)(ii) of the W. T. Act, without appreciating the findin ......

    2014 (7) TMI 543 - SUPREME COURT

    Amrit Banaspati Co. Ltd. Versus Commissioner of Wealth-Tax

    Valuation of assets being a residential flat - Rule 3 to 7 of Schedule III of the Wealth-Tax Act, 1957 - scope of the term practicable - wide variation between alleged market value as determined by the Departmental Valuation Officer and the value a ......

    2014 (5) TMI 286 - SUPREME COURT

    Commissioner of Wealth Tax, Rajkot Versus Estate of Late HMM Vikramsinhji of Gondal

    Computation of taxable income and taxable wealth of discretionary trust - estate of the deceased Settlor - legal position about the discretionary trust - assessment years 1964-65 to 1970-71 and assessment years 1970-71 to 1982-83 - Held that:- A disc ......

    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 ......



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