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2013 (4) TMI 832 - PUNJAB AND HARYANA HIGH COURTChargeability to wealth tax - Held that:- Insofar as the valuation of land measuring 22.1 acres adjoining to the factory of M/s Industrial Cable (India) Ltd. wherein eucalyptus trees have been grown and were found to be utilized for industrial packing purposes is concerned, the CWT(A) decided the matter in favour of the assessee and the stand taken by the assessee has been accepted after the cases were set aside by the Tribunal pertaining to the assessment years 1996-97 to 1998-99 vide orders dated 24.12.2007. Regarding land measuring 44 acres pertaining to the assessment years 1996-97, 1997-98 and 1998-99, which is agricultural land and according to the Wealth Tax Officer is chargeable to the wealth tax, the finding of the Wealth Tax Officer was reversed by the CWT(A), whereas the Tribunal has again upheld the order of the Wealth Tax Officer holding that it is chargeable to the wealth tax. It is stated that the said issue is covered by the decision of the Supreme Court in the case of Jagraj Singh Mann v. Commnr. of Wealth Tax, Patiala and another [2011 (12) TMI 535 - SUPREME COURT ], Civil Appeal as decided whereby the appeals filed by the assessee were dismissed and the order of the Wealth Tax Officer was maintained. No substantial question of law is involved in the appeals wherein the issue with regard to the land measuring 3.60 acres and 22.1 acres is involved and as such, these appeals filed by the assessee as well as by the revenue in respect of the cases of M/s Industrial Cables (India) Ltd. with regard to 3.60 acres and 22.1 acres of land are hereby dismissed. The rest of the appeals filed by the assessee M/s Industrial Cables (India) Ltd. pertaining to 44 acres of land are covered by the decision of the Supreme Court in Jagraj Singh Mann's case (supra) and are, thus, dismissed.
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