https://www.taxtmi.com/caselaws?id=196680 The property at Shaikpet, Hyderabad, was deemed an asset under Section 2(ea) of the Wealth Tax Act after the Tribunal overturned its earlier decision. The Tribunal erred in considering the property not as urban land due to a prohibitory order, which was found to be incorrect. The argument that the property was stock-in-trade was not considered as it was not appealed. The property was held to be an asset of the assessee, leading to a decision in favor of the Revenue, with no order on costs. en-us Thu, 07 Sep 2017 00:00:00 +0530 Tue, 12 Dec 2017 08:42:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196680 The property at Shaikpet, Hyderabad, was deemed an asset under Section 2(ea) of the Wealth Tax Act after the Tribunal overturned its earlier decision. The Tribunal erred in considering the property not as urban land due to a prohibitory order, which was found to be incorrect. The argument that the property was stock-in-trade was not considered as it was not appealed. The property was held to be an asset of the assessee, leading to a decision in favor of the Revenue, with no order on costs. Case-Laws Wealth-tax Thu, 07 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196680