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2011 (12) TMI 344 - AT - Wealth-taxWhether the commercial asset used by the assessee substantially and partly given on lease are not business assets and thus includible into the 'net wealth' u/s 2(ea) of the Wealth tax Act - The assessee in its grounds of appeal has challenged the order of the CWT(A) in confirming the action of the A.O. in holding that the commercial asset used by the assessee substantially and partly given on lease are not business assets and thus includible into the 'net wealth' u/s 2(ea) - Since the assessee in the instant case has let out a part of its business premises and since the assessee is not in the business of letting out properties, therefore, the said property, in our opinion, is not exempt either u/s. 2(ea)(i)(3) or 2(ea)(i)(5) of the Wealth Tax Act - Appeals are dismissed
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