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2018 (4) TMI 279 - AT - Wealth-taxValuation of vacant land at Shaikpet Village - assessee have claimed the property as exempt under section 2(ea) of Wealth Tax Act on the ground that the asset is stock-in-trade - Held that:- On identical facts in the case of Shri Devineni Avinash, the same issue has come up before this Tribunal [2017 (12) TMI 480 - ITAT VISAKHAPATNAM] as held that the impugned asset is not stock-in-trade as claimed by the assessee The asset is not a commercial asset and not exempt u/s 2(ea) of Wealth Tax Act and accordingly we uphold the orders of the CWT(A) and dismiss the appeals of the assessee.
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