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The Assistant Commissioner of Wealth Tax, Circle-2, Jammu Versus Sh. Vikramaditya Singh and Vica-Versa

2015 (9) TMI 1188 - ITAT AMRITSAR

Valuation of the land for Wealth Tax purposes - urban land or agricultural land - revenue contended that the documents submitted by the assessee do not specifically indicate that construction is not allowed over the land of the assessee. - CWT(A) deleted the consequent addition made by the WTO.

Held that:- Therefore, though the amendment to Section 2(ea) of the Wealth Tax Act was brought in post the passing of the WTO’s orders dated 16.12.2011 and the entitlment of the assessee to see .....

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consideration.

So far as regards the merits of the issue, the very fact that the WTO left the issue open to be “treated accordingly” by the CWT(A), shows the direct applicability of the additional evidence to the issue and its unimpeachable value in support of the assessee’s claim of the land in question being classified as agricultural land in the Govt. records and of it being used for agricultural purposes. The learned CWT(A) did treat the issue accordingly.

Once the lea .....

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he Respondent : Sh. P.N. Arora, Adv. ORDER PER BENCH: These are department s appeals and assessee s cross objections, respectively, for Assessment Years 2004-05 and 2005-06. The common issues being involved, these appeals and cross objections are being disposed off by this common order. 2. At the outset, the learned counsel for the assessee has stated at the bar that he does not wish to press the cross objections for both the years. Accordingly, the cross objection Nos.15 & 16 are dismissed .....

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he Wealth Tax Act, urban land is taxable and the assessee was in possession of urban land which he sold during Assessment Year 2006-07; and that the learned CWT(A) failed to taking into consideration the fact that the documents submitted by the assessee do not specifically indicate that construction is not allowed over the land of the assessee. 5. On the other hand, the leanred counsel for the assessee has strongly relied on the impugend order, contending that the learned CWT(A) has correctly de .....

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t allowed on the land of the assessee and that the land lay within the green zone declared by the Government, right across the Dal Lake, Srinagar. Before the learned CWT(A), however, the assessee took an additional plea and relied on the amendment brought in the definition of asset by the Finance Act, 2013 with retrospective effect from 1.04.1993, exempting land classified as agricultural land in the records of the Govt. and used for agricultural purposes, or land on which construction of a buil .....

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T(A) which is challanged before us at the hands of the department, we will deal with this aspect of the matter first. 8. In this regard it is seen that the orders of the WTO are dated 16.12.2011. The legislature amended section 2(ea) of the Wealth Tax Act by the Finance Act, 2013, with retrospective effect from 1.04.1993. Prior to the said amendment, Explanation 1(b) defined urban land not to include four types of land, i.e., land on which construction of a building was not permissisble, or land .....

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iously, since the amendment is post the passing of the WTO s orders, there was no occasion for the WTO to take into consideration the same. 9. Since the amendment is retrospective, w.e.f 1.04.1993, it directly affected the assessee s cases for both the years under consideration, i.e., Assessment Years 2004-05 & 2005-06. That being so, the obvious recourse available to the assessee was that of raising the issue before the leanred CWT(A), before whom, both the appeals were pending at the relev .....

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d, copy of Proposed Land Used Pland 2021 issued by the Srinagar Development Authority, classifying the land of the assessee as orchard land. The learned CWT(A) called for a remand report on this issue from the WTO. The WTO submitted a remand report dated 26.05.2014. With regard to the question of admission of additional evidence, the WTO stated that since the assessee did not fullfil any of the conditions laid down in Rule 46A of the IT Rules, 1962, this evidence be not admitted. With regard to .....

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the assessee only by virtue of the passing of the Finance Act, 2013, the WTO did not consider it enough fullfilment of the conditions of Rule 46A of the Inocme Tax Rules, 1962. Now, this being not correct, as the assessee squarely falls under Rule 46A(c) of the Rules, having been prevented by sufficient cause from producing before the WTO, evidence relevant to the additional plea raised before the CWT(A), the learned CWT(A) correctly took the additional evidence into consideration. 11. So far as .....

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be amply proving the assessee s claim of the land being classified as agricultural land in the records of the Govt. and of it being used for agricultural purposes. It was therefore, that the learned CWT(A) held and, correctly so, that the land of the assessee was covered by the amended definition of asset within the meaning of Section 2(ea) of the Wealth Tax Act and that it was exempt from levy of Wealth Tax. 12. Before us, other than making bald assertions, the deparmtnet has not been able to .....

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or both the years. As per the WTO, the documents furnished by the assessee, i.e., a notification, SRO & Recommendations of Committee for Lake Front Area, did not specifically indicate that construction was not allowed in the land of the assessee and that the land of the assessee lay within the area excluded from such construction. In the remand reprt also, the WTO reitreated this and stated that the assessee had not filed any document specificially supporting his claim. 14. It is pertinent t .....

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