TMI Blog2017 (5) TMI 1687X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue against the order of Ld. CIT(A), Alwar dated 01.06.2016 for A.Y. 2006-07 wherein the Revenue has taken following grounds of appeal:- (1) Whether on the facts and in the circumstances of the case the CWT(A), was justified in deleting the addition of ₹ 21,00,263/- made by the A.O on account of th share of property at Mangal Marg, Alwar without appreciating the fact that the property is falling in the definition of section 2(ea)(1) of the Wealth Tax Act. (2) Whether on the facts and in the circumstances of the case the CWT(A), was justified in deleting the addition of ₹ 8,00,000/- made by the A.O on account of 50% share of property at Rishikesh without appreciating the fact that during assessment pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cordingly: (a) Property at Mangal Marg : ₹ 21,00,263/- (b) Property at Rishikesh : ₹ 8,00,000/- (c) Property near Gaushala Alwar : ₹ 1,02,16,140/- (d) Land bearing Khasara No. 1990: ₹ 10,00,000/- The total wealth was accordingly assessed at ₹ 2,03,24,772/- 3. Being aggrieved, the assessee carried the matter in appeal before the ld. CIT(A) who has allowed the necessary relief to the assessee and his findings are contained at para 4.3 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... outset, the Ld. AR submitted that the matter relating to all these properties is covered in favour of the assessee by the earlier decision of the Coordinate Benches as well as by the decision of the ld. CIT(A) against which the Revenue has not filed any further appeal before the Hon ble ITAT. 4.1 Regarding property known as Krishna Oil Mill situated at Mangal Marg, Alwar, it was submitted that it is covered by order of ITAT dated 16.11.2011in case of Shri Niranjan Lal Data order for A.Ys. 1998-99 to 2002-2003 in WTA No. 6 to 10/JP/11, in case of Shri Niranjan Lal Data, by order dated 23.04.2015 for A.Y. 2005-06 in WTA No. 7/JP/14. It was also submitted that it is covered by following order of CIT(A) order dated 12.08.2010 for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for A.Ys. 1998-99 to 2002-03 in Appeal No. 165 164/06-07, 405/07-08, 300/08-09 and 194/09-10. It was submitted that this land is an industrial land on which the factory is running and therefore it is not an asset as per definition of Section 2(ea) of the Wealth Tax Act, 1957. 5. We now refer to the Coordinate Bench s decision in case of Shri Niranjan Lal Data (WTA No. 7/JP/14)wherein the matter relating to assessability of properties to wealth tax in respect of property at Mangal Marg, Alwar, land at Rishikesh and property at Station Road, Alwar has been examined. The relevant findings are as under: 5. We have heard the rival contentions of both the parties and perused the material on record. The Coordinate Bench ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and at ₹ 2.00 lakh and accordingly added in to the net wealth of the appellant. It is argued by the learned authorized representative of the appellant that the area of the plant of land is Biswa as also mentioned by the Assessing Officer in the assessment order, which comes about 75 sqyds. and the said plot of land is exempt within the meaning of section 5(i)(vi) of the Wealth Tax Act, 1957, since the area of the plot of land is less than 500 sq. mt. Considering, these factual position, which is also verifiable from the assessment order, the appellant is entitled to claim the exemption within the meaning of section 5(i)(vi) of the Wealth Tax Act, 1957, accordingly the addition of ₹ 2.00 in the net wealth of the appellant is h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ier decisions of ITAT and these are new matters which needs to be examined. Per contra, ld. AR submitted that it is true that these two properties are not covered by the earlier decisions of the Coordinate Benches of ITAT but at the same time, they are covered by decision of ld. CIT(A) in assessee s own case for the previous years against which Revenue has not filed any further appeal before the ITAT and hence, the findings of the ld CIT(A) have become final. 8. We have heard the rival contentions and perused the material available on record. The matter relating to first three properties are covered in favour of the assessee by the decision of Coordinate Benches. Regarding the rest two properties, we have gone through the order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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