https://www.taxtmi.com/caselaws?id=175503 The Tribunal upheld the Ld. CIT(A)'s orders for the assessment years 2003-04 & 2004-05, dismissing the Department's appeals. The judgment emphasized that the commercial nature of property use is crucial in determining its classification as an asset under the Wealth Tax Act, excluding the warehouse from assessable wealth due to its utilization for business purposes by the assessee and tenants. en-us Fri, 07 Jan 2011 00:00:00 +0530 Tue, 24 Nov 2015 15:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175503 The Tribunal upheld the Ld. CIT(A)'s orders for the assessment years 2003-04 & 2004-05, dismissing the Department's appeals. The judgment emphasized that the commercial nature of property use is crucial in determining its classification as an asset under the Wealth Tax Act, excluding the warehouse from assessable wealth due to its utilization for business purposes by the assessee and tenants. Case-Laws Wealth-tax Fri, 07 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175503