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2015 (5) TMI 874 - AT - Wealth-taxExemption claim - Urban land - assessee submitted that since the property in question is not a vacant land but there was a building under construction over the said land, it cannot be treated as urban land u/s. 2(ea)(v) - Failure to furnish documentary evidence - whether the property subjected to Wealth Tax is an 'urban land' as per Section 2(ea)(v)- Held that:- Any area comprised within the jurisdiction of a municipality or Cantonment Board which has a population not less than 10,000 according to the land census or in any area which is within such distance not being more than 8 KMs from the local limits of any municipality or Cantonment Board as notified by the Central Government shall be treated as urban land. However, the said provisions also excludes certain categories of land from being treated as urban land if they satisfy conditions mentioned therein. Structure standing over the land during the relevant period being a half/semi-finished one cannot come within the exclusionary clause so as to take it out from the ambit of urban land. - even accepting assessee's claim that there was a building under construction over the land during the relevant time, but no documentary evidence has been brought on record to indicate approval of the appropriate authority for such construction. In course of hearing when the Ld. AR was specifically asked whether there is an approval of the appropriate authority for the construction, he admitted that there is no such approval. That being the case, the conditions of clause-1(b) to Section 2(ea) is not satisfied for claiming exemption from Wealth Tax. - Decision in the case of Commissioner of Wealth Tax and another Vs. Giridhar G.Yadalam [2007 (3) TMI 334 - KARNATAKA HIGH COURT] followed - Decided against assessee.
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