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2003 (4) TMI 87 - PUNJAB AND HARYANA HIGH COURT"(i) Whether, Tribunal was right in law in holding that flat, and hotel site did not belong to the assessee within the meaning of section 2(m) of the Wealth-tax Act and hence could not be assessed, as such in his hands merely on the ground that these have not been transferred in his name particularly when the assessee had made full consideration of the value of the property but did not get it transferred intentionally/otherwise and had also subsequently declared it as an asset in his wealth-tax return for the AY 1995-96 under similar circumstances ? - (ii) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the flat and hotel did not belong to the assessee within the meaning of section 2(m) of the Wealth-tax Act, and hence could not be assessed, as such in his hands merely on the ground that these have not been transferred, in his name particularly when the assessee had made full or partial consideration of the value of the properties and the value of such consideration so made, in the alternate, is liable to be included in his net wealth?" - In our opinion, the findings recorded by the Tribunal that the flat, the plot and the hotel site did not belong to the assessee are based on a correct appreciation of evidence and none of the questions framed by the appellant can be treated as a substantial question of law
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