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2011 (7) TMI 229 - DELHI HIGH COURTBenefit of Section 2(ea) of the Wealth Tax Act, 1957 - assessee had been allocated land in question at Plot No.14/6, Site-IV, Sahibabad Industrial Area, Ghaziabad on 99 years lease by Uttar Pradesh State Industrial Corporation for its business - assessee had shown income under the head “Profits & Gains of Business or Profession”, which was also accepted by the AO - . Even when the CIT (A) while discussing the case of the assessee under the Wealth Tax Act had opined that the case of the assessee under Income Tax Act be reopened, no such steps were taken by the AO under the provisions of the Act which shows that the assessments under the Act had become final - it is clear that not only in the Assessment Years in question, the assessee had carried on its business utilizing the aforesaid asset for this purpose, but this decision was even accepted by the Department as well - Appeal is dismissed
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