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2016 (8) TMI 351 - HC - Wealth-taxUrban land - ITAT held that "urban land" as defined in clause (b) of Explanation 1 to Sec.2(ea) of the Wealth Tax Act does not include any right or interest that a person may be having in the urban land otherwise than by way of actual ownership - Held that:- This Court is in complete agreement with the findings recorded by the Tribunal which is just and proper and therefore we accordingly answer the question raised in this appeal in favour of the assessee and against the Department . The assessee before us merely had a right in the property, which does not fall within the meaning of the term “assets” as defined in section 2(ea) of the Act.
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