https://www.taxtmi.com/caselaws?id=379141 The Tribunal's decision could not stand because it had not examined the post-01.04.1993 amended definition of "asset" under the Wealth-tax Act, including the exclusion for property in the nature of commercial establishments or complexes. The dispute concerned whether leased hospital, factory building, motor cars and related equipment fell within the taxable ambit after the statutory amendment. Fresh consideration was therefore required in light of the amended legal position, and the matter was remanded to the Tribunal for a decision in accordance with law, without any ruling on the merits of the assessee's claim. en-us Wed, 10 Apr 2019 00:00:00 +0530 Fri, 03 May 2019 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379141 The Tribunal's decision could not stand because it had not examined the post-01.04.1993 amended definition of "asset" under the Wealth-tax Act, including the exclusion for property in the nature of commercial establishments or complexes. The dispute concerned whether leased hospital, factory building, motor cars and related equipment fell within the taxable ambit after the statutory amendment. Fresh consideration was therefore required in light of the amended legal position, and the matter was remanded to the Tribunal for a decision in accordance with law, without any ruling on the merits of the assessee's claim. Case-Laws Income Tax Wed, 10 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379141