TaxTMI 
TaxTMI 
1978 (4) TMI 135
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.... these appeals are common and, therefore, they are being disposed of by this common order. 2. The first ground is regarding the valuation of non-agricultural land having an area of 18 Katthas and 18 dhurs. The assessee had shown the value of this land at Rs. 10,000, whereas the WTO had valued this property at Rs. 28,350 on the ground that similar value had been taken in the estate duty assessment....
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....s claim of exemption in respect of the value of machinery used in the rice and oil mill. The claim of the assessee has been denied by the WTO as well as the AAC on the ground that the rice mil and the oil mill was not an industrial undertaking within the meaning of the relevant provisions. It is submitted before us that the rice mill and oil mill are also engaged in manufacturing and procession of....
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....ries is excluded from the taxable wealth of the assessee for both the years. 4. The last ground to be considered is regarding the valuation of the factory building and its exemption under s.5(1)(iv) of the WTA. The assessee was owning a factory and had 3/4th share in it. The assessees had claimed exemption regarding this building on the ground that it was exempt under s.5(1)(iv). The WTO had firs....
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.... factory building was also a house as the exemption was available to residential as well as non-residential house as well as to commercial house. The Departmental Representative on the other hand submitted that a factory building could not be considered to be a house as the word used was not building but "house". 6. We have considered the facts of the case and we are of the view that considering ....