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2019 (4) TMI 1195 - AT - Wealth-taxUrban land chargeable to wealth tax - Agricultural lands situated within the limits of city corporation - Lands in question exempted for wealth tax under section 2(ea) - HELD THAT:- Lands in question are exempted from wealth tax under section 2(ea) of the Wealth Tax Act, hence, not chargeable to wealth tax Agricultural lands situated within the limits of city corporation on which no construction is put up is not chargeable to wealth tax. Therefore, the assessee's case squarely falls within the definition of agricultural land as well as the amended provisions of Wealth Tax Act, where construction is not permissible. Accordingly we hold that the lands in question are exempted for wealth tax u/s 2(ea), hence not chargeable to wealth tax. We are unable to sustain the orders of the lower authorities and allow the appeal of the assessee. See SRI VEGESNA ANANTHA KOTI RAJU VERSUS DCWT (INTERNATIONAL TAXATION) VISAKHAPATNAM [ [2018 (2) TMI 1878 - ITAT VISAKHAPATNAM] ]
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