Home Case Index All Cases Wealth-tax Wealth-tax + HC Wealth-tax - 2006 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (9) TMI 118 - HC - Wealth-taxBuilding is partly used by the assessee-company for its own business and partly let out to various tenants. The Wealth-tax Officer excluded a part of the main building occupied by the assessee for its own business and assessed the rest of the property to wealth-tax. He also rejected the claim of the assessee that the entire building must be exempted as a building used in the business of the assessee. - Whether, Tribunal was right in law in holding that the tenanted portion of the property was used in the assessee's business and was, therefore, excludible from the operation of section 40 of the Finance Act, 1983? - question is answered in favour of the Revenue and against the assessee
|