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2020 (12) TMI 149 - AT - Wealth-taxWealth tax assessment - exemption claimed under Sec.5(vi) of the Wealth Tax Act in respect of residential flat at Mega Polls denied - assessee had not filed the documentary evidence in support of the exemptions claimed - Addition to the returned wealth on account of cash on hand - HELD THAT:- Assessee had claimed exemptions of two properties citing the provisions of Wealth Tax Act. Though the Assessing Officer mentioned that in the absence of evidence in support of the exemptions claimed, denied the exemptions but it is not clear as to what details were required to grant the relief as claimed by the assessee. Addition to the returned wealth on account of cash on hand, the material on the record suggests that the cash was seized in the Financial Year 2009-10, whereas, we are concerned for the Financial Year 2010-11. There is no reference to any material suggesting the availability of cash on hand on 31.03.2011. Thus in the interests of the justice, the matter is remanded back to the file of Assessing Officer for fresh adjudication in accordance with law after affording a reasonable opportunity of being heard to the assessee. - Appeal filed by the assessee is partly allowed for statistical purposes.
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