TMI Blog2011 (11) TMI 806X X X X Extracts X X X X X X X X Extracts X X X X ..... he Commissioner of Wealth-tax (Appeals) on 29.01.2009 in relation to the assessment year 2002-2003. 2. The only ground is against the confirmation of addition of `80,57,680. Briefly stated the facts of the case are that there was a cash seizure of ₹ 80,57,650 from the assessee by the crime branch of Mumbai Police. Based on the addition made and confirmed in the Income-tax assessment towar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... over the period and it was eventually in 2010 the same was encashed and the amount was credited to the assessee s bank account. 4. Section 2(ea) of the Wealth-tax Act, 1957 as inserted by the Finance Act, 1992 with effect from 01.04.1993 provides the definition of assets in relation to assessment year commencing on 1st April, 1993 or thereafter. This provision has six clauses viz. (i) buildi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in hand. If the intention of the legislature had been to include bank deposits also within the ambit of assets , it would have specifically provided so. As the definition of assets u/s 2(ea) is exclusive and does not provide for inclusion of FDR or any other bank deposit within its purview, in our considered opinion, the FDR could not have been directed to be included in the net wealth of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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