Important Wealth Tax Cases Law for Ca Final Dt Nov 2011

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Wealth Tax FOR NOV 2011 EXAM

2011 - TMI - 203374 - PUNJAB AND HARYANA HIGH COURT
Rajiv Kumar. Versus Commissioner of Wealth Tax.
Urban land - Agricultural land - the matter is covered against the assessee by order of this Court dated 8.9.2003 in W.T.A. No.1 of 2003 in Jagraj Singh Mann v. CWT, Patiala & another - Decided against the assessee .... .....04.1993 for charging the wealth tax? iii) Whether the order is sustainable by not appreciating that as per Article 246 r.w. List-1 of 7th Scheduled Item No.86 the tax on the capital value of agricultural lands can not be levied by the Parliament and hence the interpretation rendered is unconstitutional?” Learned counsel for the assessee fairly states that the matter is covered against the assessee by order of this Court dated 8.9.2003 in W.T.A. No.1 of 2003 in Jagraj Singh Mann v. CWT, Patiala & another. Accordingly, these appeals are dismissed. A photocopy of this order be placed on the file of each connected case.

2011 - TMI - 203338 - PUNJAB AND HARYANA HIGH COURT
Commissioner of Wealth Tax. Versus S/Shri Kulbir Singh & Rajinder Singh. Assets u/c 2(ea)- The appeal of the Revenue by ignoring that under the provisions of section 2(ea) of the Wealth-tax Act the urban land is included in the definition of ‘assets’ w.e.f. 01.04.1993 and on merits the value of such urban land was taxable - The Assessing Officer included the agricultural.... ..... with the judgment of the Full Bench of this Court. 5. On merits, view has already been taken in favour of the revenue by order passed today in W.T.A. No. 31 of 2010 Tara Singh v. Commissioner of Wealth Tax etc. 6. In view of judgment of Full Bench of this Court in M/s Varindera Construction Co. Baghapurana, we are of the view that the impugned order of the Tribunal cannot be sustained and the same is set aside. The matter is remanded to the Tribunal for fresh decision on merits. It is made clear that if the assessee is aggrieved by this order, they will be at liberty to approach this Court. The appeal is disposed of.

2011 - TMI - 203319 - PUNJAB AND HARYANA HIGH COURT
Smt. Surinder Kaur. Versus The Commissioner of Wealth Tax & another. Assets u/s 2(ea)- Agricultural Land of which agricultural operation were being carried out - Hence, the matter is covered against the assessee by order of this Court dated 8.9.2003 in Jagraj Singh Mann v. CWT, Patiala & another - Accordingly, these appeals are dismissed.... .....stantial question of law:- “i) Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the Section 2(ea) of the Wealth Tax Act would include the Agricultural Land of the Appellant of which agricultural operation were being carried out?” Learned counsel for the assessee fairly states that the matter is covered against the assessee by order of this Court dated 8.9.2003 in W.T.A. No.1 of 2003 in Jagraj Singh Mann v. CWT, Patiala & another. Accordingly, these appeals are dismissed. A photocopy of this order be placed on the file of each connected case.

2011 - TMI - 203253 - PUNJAB AND HARYANA HIGH COURT
Commissioner of Wealth Tax. Versus S/Shri Kulbir Singh & Rajinder Singh. Assets u/s 2(ea)- The Assessing Officer included the agricultural land falling under the definition of ‘Urban land’ and ‘asset’ under Section 2(ea) for assessment under the Act - CIT(A) deleted the addition - ITAT refused to entertain the appeal on the ground that amount is small - Held that: - the.... ..... with the judgment of the Full Bench of this Court. 5. On merits, view has already been taken in favour of the revenue by order passed today in W.T.A. No. 31 of 2010 Tara Singh v. Commissioner of Wealth Tax etc. 6. In view of judgment of Full Bench of this Court in M/s Varindera Construction Co. Baghapurana, we are of the view that the impugned order of the Tribunal cannot be sustained and the same is set aside. The...
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