https://www.taxtmi.com/caselaws?id=205476 The Tribunal upheld the respondent's benefit under Section 2(ea) of the Wealth Tax Act for property used for business purposes, dismissing the appeals challenging the exemption. The Tribunal found that the assessee demonstrated business activities through filed income tax returns and allowed depreciation on the building, indicating utilization of the asset for business. Despite initial doubts raised by the CIT (A) and a call for reopening income tax proceedings, the Tribunal affirmed the acceptance of business activities, leading to the dismissal of the appeals as no substantial question of law arose. en-us Mon, 18 Jul 2011 00:00:00 +0530 Sat, 03 Sep 2011 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205476 The Tribunal upheld the respondent's benefit under Section 2(ea) of the Wealth Tax Act for property used for business purposes, dismissing the appeals challenging the exemption. The Tribunal found that the assessee demonstrated business activities through filed income tax returns and allowed depreciation on the building, indicating utilization of the asset for business. Despite initial doubts raised by the CIT (A) and a call for reopening income tax proceedings, the Tribunal affirmed the acceptance of business activities, leading to the dismissal of the appeals as no substantial question of law arose. Case-Laws Wealth-tax Mon, 18 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205476