https://www.taxtmi.com/caselaws?id=260000 The Tribunal upheld the decision of the CIT(A) and dismissed both appeals, ruling that the property in Punjagutta, Hyderabad, should be classified as urban land and subjected to Wealth Tax. The Tribunal found that the property did not meet the exemption criteria under the Wealth Tax Act as it lacked a fully constructed building and approval from the appropriate authority for new construction. The appeals were therefore dismissed, affirming the imposition of Wealth Tax on the property. en-us Wed, 29 Apr 2015 00:00:00 +0530 Thu, 28 May 2015 06:35:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260000 The Tribunal upheld the decision of the CIT(A) and dismissed both appeals, ruling that the property in Punjagutta, Hyderabad, should be classified as urban land and subjected to Wealth Tax. The Tribunal found that the property did not meet the exemption criteria under the Wealth Tax Act as it lacked a fully constructed building and approval from the appropriate authority for new construction. The appeals were therefore dismissed, affirming the imposition of Wealth Tax on the property. Case-Laws Wealth-tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260000