https://www.taxtmi.com/caselaws?id=171843 The Tribunal dismissed the Revenue's appeal and upheld the decision of the CWT(Appeals) to exclude commercial properties from taxable wealth under the Wealth Tax Act, 1957. The properties, let out for commercial activities, were deemed to fall within the exemption provided by Explanation (5) to section 2(ea)(i) as commercial establishments or complexes. The Tribunal emphasized the importance of the nature and use of the property in determining its classification, supporting the exclusion based on the specific provisions cited. en-us Mon, 18 Mar 2013 00:00:00 +0530 Thu, 06 Aug 2015 06:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171843 The Tribunal dismissed the Revenue's appeal and upheld the decision of the CWT(Appeals) to exclude commercial properties from taxable wealth under the Wealth Tax Act, 1957. The properties, let out for commercial activities, were deemed to fall within the exemption provided by Explanation (5) to section 2(ea)(i) as commercial establishments or complexes. The Tribunal emphasized the importance of the nature and use of the property in determining its classification, supporting the exclusion based on the specific provisions cited. Case-Laws Wealth-tax Mon, 18 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171843