Category: Section 3

Madras H.C : the value of the lease hold right in the property under consideration was correctly brought into the computation of net wealth as per provisions of Section 40 of the Finance Act, 1983 for the assessment year under consideration

High Court Of Madras South India Structural Corporation Ltd. vs. Deputy Commissioner Of Wealth Tax, Co. Circle I(3), Chennai Section : 3 R. Sudhakar And R. Karuppiah, JJ. T.C.A. No. 1236 Of 2005 March 10, 2015 JUDGMENT R. Sudhakar, J. – Aggrieved by the order passed by the Income Tax Appellate Tribunal in allowing the appeal …

Madras H.C : The assets of the trust by name Tenzing Family Trust could not be included in the net wealth of the assessee-beneficiary and that the same should be considered in the hands of the trust

High Court Of Madras Deputy Commissioner Of Wealth Tax vs. A. Tenzing Sections WT 2(m), WT 3 Asst. Years 1976-77, 1977-78, 1978-79 P.D. Dinakaran & P.P.S. Janarthana Raja, JJ. Tax Case (Ref.) Nos. 175 to 177 of 2001 28th February, 2006 Counsel Appeared Mrs. Pushya Sitaraman, for the Applicant : J. Balachander, for the Respondent JUDGMENT …

Karnataka H.C : whether the Tribunal is justified in setting aside the orders passed by the WTO in levying penalty under s. 18(1)(a) of the Act for belated filing of the wealth-tax returns for the asst. yrs. 1981-82 and 1982-83 ?

High Court Of Karnataka Commissioner Of Wealth Tax vs. Chikmagalur Club Section WT 3, WT 18(1)(a), WT 21AA Asst. Year 1980-81, 1981-82, 1982-83, 1983-84 H.L. Dattu & H.N. Nagamohan Das, JJ. Tax Refd. Case Nos. 1, 2 & 120 of 1998 25th August, 2005   Counsel Appeared : M.V. Seshachala & Aravind, for the Applicants : …

Madhya Pradesh H.C : Whether the conclusion of the Tribunal that the property inherited as individual was not thrown into common stock of the family before 31st Dec., 1969, and is taxable as separate property and not as of HUF is against the weight of the evidential material and is thus perverse and vitiated and results in levy of tax in violation of Art. 265 of the Constitution of India ?

High Court Of Madhya Pradesh : Indore Bench Prabhashchandra Jha vs. Commissioner Of Wealth Tax Section WT 2(m), WT 3 Asst. Year 1980-81, 1981-82, 1982-83, 1983-84 A.M. Sapre & Ashok Kumar Tiwari, JJ. IT Ref. No. 40 of 1996 28th February, 2005 Counsel Appeared : Milind Phadke, for the Petitioner : R.L. Jain with Ms. V. …

Delhi H.C : According to the assessee since the ownership of the car was being disputed and the car has not been registered in the name of the assessee-company under the Motor Vehicles Act, the value of the car is not liable to be included in net wealth of the assessee under s. 2(ea) of the WT Act, 1957 (hereinafter referred to as the ‘Act’)

High Court Of Delhi Oswal Chemicals & Fertilisers Ltd. vs. Commissioner Of Wealth Tax Sections WT 2(ea), WT 3, WT 27A(2) Asst. Year 1993-94, 1994-95, 1995-96, 1996-97, 1997-98, 1998-99, 1999-2000 Swatanter Kumar & Madan B. Lokur, JJ. WT Appeal Nos. 19 to 21 & 23 to 26 of 2004 3rd February, 2005 Counsel Appeared C.S. Aggarwal …

Allahabad H.C : Whether in law and on facts of the case, the Tribunal was justified in confirming the CWT(A)’s decision deleting the addition of Rs. 6,87,077 made on account of value of shares transferred to the trust ?

High Court Of Allahabad Commissioner Of Wealth Tax vs. Rakesh Mohan Section WT 3 Asst. Year 1980-81 R.K. Agrawal & Prakash Krishna, JJ. WT Ref. No. 150 of 1988 17th January, 2005 Counsel Appeared : Shambhoo Chopra, for the Revenue ORDER By the court : The Tribunal, Allahabad, has referred the following two questions of law …

Punjab & Haryana H.C : Whether, in view of the facts and circumstances of the case, the Tribunal was justified in ignoring the rental method, even when the property in question was entirely let out to various tenants ?

High Court Of Punjab & Haryana Amin Chand Bhola Nath (HUF) vs. Commissioner Of Wealth Tax Section WT 2(M), WT 3, WT 7 Asst. Year 1974-75 to 1976-77, 1978-79 & 1979-80 N.K. Sud & Adarsh Kumar Goel, JJ. WT Ref. Nos. 21 to 25 of 1996 3rd September, 2004 Counsel Appeared : Akshay Bhan, for the …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the immovable properties held as business assets cannot form part of the subject-matter of wealth- tax ?

High Court Of Madras Commissioner Of Wealth Tax vs. B.R. Theatres & Industrial Concerns (P) Ltd. Sections FA1983 40(3), WT 3 Asst. Year 1984-85, 1985-86, 1986-87, 1987-88, 1988-89 R. Jayasimha Babu & S.R. Singharavelu, JJ. Tax Case Nos. 130, 179 & 184 to 186 of 2000 1st December, 2003 Counsel Appeared T. Ravikumar, for the Appellant …

Kerala H.C :

High Court Of Kerala P.V. Jacob vs. Commissioner Of Wealth Tax Sections WT 2(e), WT 3 Asst. Year 1986-87 G. Sivarajan & J.M. James, JJ. WT Appeal No. 2 of 2003 17th March, 2003 Counsel Appeared M.P. Abraham & N. Sreenivasan, for the Appellant : P.K.R. Menon, for the Respondent JUDGMENT G. Sivarajan, J. : The …
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