Home Case Index All Cases Wealth-tax Wealth-tax + HC Wealth-tax - 2004 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (10) TMI 46 - ALLAHABAD HIGH COURTHouse – valuation - unbuilt vast area - "Whether, Tribunal was correct in law in holding that the term 'house' will include all the unbuilt vast area of land and whether the immunity as envisaged under section 7(4) can be given to such an unbuilt vast area of land?" - It is common knowledge that in several cities there are old bungalows having large area running into several acres of land but none the less they are treated as one residential house. The vacant land which is there in the house is being used as garden, lawns, etc. There is no allegation that there is any proposal of selling the land. The land, thus, could not have been valued separately. – Thus, we answer the question of law referred to us in the affirmative, i.e., in favour of the assessee
|