https://www.taxtmi.com/caselaws?id=352211 The Tribunal upheld the decision of the Commissioner of Wealth Tax (Appeals) that the vacant land in Sheikpet, Hyderabad is liable for Wealth Tax. The property was deemed an investment, not stock-in-trade, as no development occurred despite a development agreement. The Tribunal rejected the argument that an interim injunction order against construction exempted the property from being classified as an asset under the Wealth Tax Act. The assessee's appeals were dismissed, affirming the property's liability for Wealth Tax. en-us Fri, 08 Dec 2017 00:00:00 +0530 Mon, 11 Dec 2017 07:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352211 The Tribunal upheld the decision of the Commissioner of Wealth Tax (Appeals) that the vacant land in Sheikpet, Hyderabad is liable for Wealth Tax. The property was deemed an investment, not stock-in-trade, as no development occurred despite a development agreement. The Tribunal rejected the argument that an interim injunction order against construction exempted the property from being classified as an asset under the Wealth Tax Act. The assessee's appeals were dismissed, affirming the property's liability for Wealth Tax. Case-Laws Wealth-tax Fri, 08 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352211