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2011 (4) TMI 88 - PUNJAB AND HARYANA HIGH COURTAssets u/c 2(ea)- The appeal of the Revenue by ignoring that under the provisions of section 2(ea) of the Wealth-tax Act the urban land is included in the definition of ‘assets’ w.e.f. 01.04.1993 and on merits the value of such urban land was taxable - The Assessing Officer included the agricultural land falling under the definition of ‘Urban land’ and ‘asset’ under Section 2(ea) for assessment under the Act - The CWT (A) set aside the addition - The Tribunal dismissed the appeal of the department on the ground of smallness of the amount involved. Held that: the monetary limit for filing appeal was not applicable to wealth tax cases and in any case, on the date of filing of appeal before the Tribunal, the limit of Rs. 2 lacs was not applicable - Moreover, the limit prescribed is for Income Tax matters and not for wealth tax matters - Hence, the impugned order of the Tribunal cannot be sustained and the same is set aside - The appeal is disposed of.
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