2009 (7) TMI 73

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..... r complex. – Held that - the tribunal did not committed any substantial error of law in holding that the property in the nature of commercial establishment fell outside the definition of asset for the purpose of Wealth Tax Act – revenue appeal dismissed. - 1 of 2009 - - - Dated:- 15-7-2009 - Subhro Kamal Mukherjee and Sankar Prasad Mitra, JJ. Mr. P. K. Bhowmick, Advocate, for the appellant .....

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..... offices, banks and garages. The assessing officer although initiated a reassessment proceeding, but held that the property-in-question has been in the nature of commercial establishment or complex. Therefore, in view of the amendment in the Wealth Tax Act, 1957, with effect from Apri 1, 1993, such property was not to be included in the asset for the purpose of wealth tax. We do not think that .....

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