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2018 (10) TMI 685

Wealth tax assessment of land - Additions to the wealth of the assessee by refusing to accept the claim of the assessee that the five lands in four villages are exempt assets u/s. 2(ea)(v) of the Wealth Tax Act - CIT(A) has deleted the lands situated at Mysuravaripalle Village - Assessee has claimed that these lands are agricultural lands, even though situated within 8 KMs from the municipal limits but construction on these lands is not permissible as these lands were not converted into urban lands - Held that:- Assessee has not brought on record any evidence in support of the above claim, but she prayed before the Assessing Officer that this may be verified with the SRO and appropriate action may be taken by the Assessing Officer. Now, .....

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heard together and adjudicated by this common order. For the sake of convenience, the facts for the AY. 2007-08 have been taken for consideration. 2. Brief facts of the facts are that the assessee filed her return of income for the AY. 2007-08 on 25-10-2010. The Assessing Officer noticed that after observing the balance sheet filed along with the return of income that the assessee is in possession of assets that attracts wealth tax, whereas the assessee has not filed return of wealth. Therefore, notice u/s. 17, dt. 25-08-2011 was served on the assessee on 29-08-2011. In response to the notice, the assessee filed return of wealth on 19-11-2012 admitting net wealth of ₹ 53,78,132/-. Subsequently, the case was selected for scrutiny and n .....

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the Mysuravaripalle lands as agricultural land from the report of SRO, Tirupati and confirmed the other additions made by the Assessing Officer, as the other lands indicated, involved in urbanization. 2.2. Aggrieved with the order of the CIT(A), the assessee preferred present appeal before us raising the following grounds of appeal: 1. The learned Commissioner of Incometax (Appeals) is not justified in confirming the order of the Assessing Officer treating the agricultural lands at Venkatapuram, Avilala and Mangalam as nonagricultural lands . Ground No. 2 is general in nature. 3. Before us, the assessee brought on record additional evidence with a petition for admission of the additional evidence. This additional evidence is relating to the .....

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by the Sarpanch of the respective village, in our considered view, this should be verified by the Assessing Officer by making a physical verification of the land and by obtaining proper information from the respective Panchayat Board. Since the assessee has not submitted any evidence relating to two lands situated at Avilala Village, therefore, the Assessing Officer is directed to verify these lands in person and make the appropriate addition or deletion to the wealth of the assessee. Therefore, the appeal filed by the assessee is remitted to the file of the Assessing Officer with a direction to give a proper opportunity of being heard to the assessee. 4.2. Since the facts for the AYs. 2008-09 & 2009-10 are also identical, these two ap .....

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