https://www.taxtmi.com/caselaws?id=67191 A builder's property shown in the balance sheet as stock-in-trade was excluded from wealth-tax because section 2(ea) does not treat a house held as stock-in-trade as a taxable asset. Temporary letting pending sale did not alter the character of the property, so its value could not be taxed by applying gross maintainable rent. The corresponding penalty also could not survive once the quantum addition was deleted, as it had no independent basis. en-us Wed, 19 Mar 2008 00:00:00 +0530 Wed, 12 Jun 2013 15:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67191 A builder's property shown in the balance sheet as stock-in-trade was excluded from wealth-tax because section 2(ea) does not treat a house held as stock-in-trade as a taxable asset. Temporary letting pending sale did not alter the character of the property, so its value could not be taxed by applying gross maintainable rent. The corresponding penalty also could not survive once the quantum addition was deleted, as it had no independent basis. Case-Laws Wealth-tax Wed, 19 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67191