Home Case Index All Cases Wealth-tax Wealth-tax + AT Wealth-tax - 2018 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (5) TMI 1705 - AT - Wealth-taxAssessment of wealth tax - assessee claims that Thiruvanmiyur property can be taken as self-occupied and the Kodaikanal property can be assessed for wealth-tax - Held that:- When the assessee resided at Thiruvanmiyur house and used the premises for his medical profession, it has to be construed as if the property was residential one and self-occupied. Therefore, the Thiruvanmiyur property is exempted from wealth-tax. Coming to the Kodaikanal property, the Ld. Sr. counsel very fairly submitted that it can be subject matter of wealth-tax assessment. Therefore, the Assessing Officer may assess the value of Kodaikanal property for wealth-tax, after valuing the property as per the procedure prescribed in Wealth-tax Act as on the valuation date.
|