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2015 (9) TMI 1188 - AT - Wealth-taxValuation of the land for Wealth Tax purposes - urban land or agricultural land - revenue contended that the documents submitted by the assessee do not specifically indicate that construction is not allowed over the land of the assessee. - CWT(A) deleted the consequent addition made by the WTO. Held that:- Therefore, though the amendment to Section 2(ea) of the Wealth Tax Act was brought in post the passing of the WTO’s orders dated 16.12.2011 and the entitlment of the assessee to seek refuge thereunder arose to the assessee only by virtue of the passing of the Finance Act, 2013, the WTO did not consider it enough fullfilment of the conditions of Rule 46A of the Inocme Tax Rules, 1962. Now, this being not correct, as the assessee squarely falls under Rule 46A(c) of the Rules, having been prevented by sufficient cause from producing before the WTO, evidence relevant to the additional plea raised before the CWT(A), the learned CWT(A) correctly took the additional evidence into consideration. So far as regards the merits of the issue, the very fact that the WTO left the issue open to be “treated accordingly” by the CWT(A), shows the direct applicability of the additional evidence to the issue and its unimpeachable value in support of the assessee’s claim of the land in question being classified as agricultural land in the Govt. records and of it being used for agricultural purposes. The learned CWT(A) did treat the issue accordingly. Once the learned CWT(A) held the land of the assessee to be exempt on one count, i.e., the land being classified as agricultural land in the records of the Govt. and used for agricultural purposes, this finding was sufficient to reverse the orders passed by the WTO, which has correctly been done. - Decided against the revenue.
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