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2015 (11) TMI 912 - AT - Wealth-taxExemption u/s 5(1)(vi) - Whether on the facts and in the circumstances of the case, the CWT(A)has erred in allowing the exemption u/s 5(1)(vi) for the plot under construction as the same does not come under the purview of house, or part of a house - Held that:- CIT(A) categorically stated that the assessee was having a plot no. 6 in Mandakini Residential Scheme, Alaknanda, New Delhi, the said plot was measuring 260.10 sqm and was under construction during the year under consideration and that the construction had been done during the year 2010, therefore, the said house which was under construction was not liable to wealth tax - assessee was having a plot measuring 260.10 sqm allotted by DDA on 05.12.2002 situated at plot no. 6 Mandakini Residential Scheme, Alaknanda, New Delhi. The said plot was under construction for the years under consideration as construction had been done during the year 2010. Therefore, the assessee was entitled for exemption u/s 5(1)(vi) of the Wealth Tax Act as per the ratio laid down in the aforesaid referred to case of CIT Vs Neena Jain [2010 (2) TMI 635 - Punjab and Haryana High Court ]. We, therefore, do not see any valid ground to interfere with the findings of the ld. CIT(A). - Decided in favour of assessee.
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