TMI Blog2022 (12) TMI 1240X X X X Extracts X X X X X X X X Extracts X X X X ..... far as use of the land for agricultural purposes is concerned, it is recorded in the Valuation Report dated November 28, 2014 prepared by Shri. V. Vellaichamy, District Valuation Officer of the Income Tax Department. Thus, according to the Valuation Officer, there were several trees in the entire land in Sy. No.11/3. It also shows that the access to the said land is through Sy. No.14/1 owned by Shri. A.N. Narendranath. The Report does not clearly indicate whether standing trees were in Sy. No.11/3 or 14/1. Therefore, it requires reconsideration in the hands of the ITAT, which is the last fact finding authority - W.T.A No.15 OF 2017 C/W W.T.A No.1 OF 2018 - - - Dated:- 2-12-2022 - HON BLE MR. JUSTICE P.S. DINESH KUMAR AND HON BLE MR. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s lands owned by them. Hence, these two appeals are disposed of by this common order. 5. Brief facts of the case are, assesses own certain land in Sy. No.11/3 in T.Dasarahalli, Bangalore. By order dated October 6, 2008, the said lands were converted for non agricultural use. The Assessing Officer passed separate orders of assessment dated December 26, 2014 under Section 16(3) read with Section 17 of the Wealth Tax Act, 1957 ( The Act for short) for the A.Ys. 2009-10 to 2013-14. 6. Appeals filed by the assessees against the orders of Assessing Officer before the CWT(A) (Commissioner of Wealth Tax (Appeals)) stood dismissed vide orders dated March 23, 2016 and March 24, 2017. The assessees' appeals before ITAT have also been dism ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration. 10. We have carefully considered rival contentions and perused the records. 11. The ITAT, in para 9 of the impugned order has held thus: 09. There is no distinction in respect of agricultural land in the above provision. In the definition of urban land given in cl.(b) to Expln. 1 to s. 2(ea), there is no exclusion provided for agricultural land. Therefore, agricultural land which is urban land is includible in the definition of asset in s.2(ea). Subsequently, the definition of urban land in the Wealth Tax Act, 1957 has been amended by Finance Act 2013 w.e.f. assessment year 1993-94 to specifically provide that wealth tax is not leviable on urban land which is, (i) classified as agricultural land in the records of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as agricultural land in the record of the Government and used for agricultural purposes. 15. The Records of Right placed before us prima facie demonstrate that name of Shri. A.R. Narendranath is found in the Government Record. So far as use of the land for agricultural purposes is concerned, it is recorded in the Valuation Report dated November 28, 2014 prepared by Shri. V. Vellaichamy, District Valuation Officer of the Income Tax Department, it is stated thus: Nature and Brief Description of the property: This property consists of 5Acre in Survey No.11/3 located at T Dasarahalli village, Yeshwanthapur Hobli, Bangalore. The assessee owns this parcel of land having a total land area of 7acres and 27 guntas in Survey No.11/3 wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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