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2004 (8) TMI 71 - ALLAHABAD HIGH COURT"1. Whether the Income-tax Appellate Tribunal is legally correct in holding that the assessee was entitled to exemption under section 5(1)(iv) of the Wealth-tax Act in respect of his share in the value of the immovable properties, which belonged to the firm of which the assessee is a partner? 2. Whether the Income-tax Appellate Tribunal is legally correct in holding that reversionary value of land cannot be included while valuing the immovable property by capitalizing net annual value?" - We answer question No. 1 in the negative, i.e., in favour of the Revenue and against the assessee and we answer the second question in the affirmative, i.e., in favour of the assessee and against the Revenue
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