https://www.taxtmi.com/caselaws?id=382122 The Tribunal remanded the case to the Wealth-tax Officer for re-examination to determine whether certain assets, mistakenly included in the net wealth of the assessee for wealth-tax assessment, should be excluded. The Tribunal emphasized that business assets like land should be excluded from wealth-tax assessment and noted that assets not wholly owned by the assessee and part of the real estate business's stock-in-trade should not be included in the net wealth. The appeals filed by the assessee were allowed for statistical purposes, and the matter was referred back to the Wealth-tax Officer for further assessment. en-us Mon, 24 Jun 2019 00:00:00 +0530 Tue, 25 Jun 2019 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382122 The Tribunal remanded the case to the Wealth-tax Officer for re-examination to determine whether certain assets, mistakenly included in the net wealth of the assessee for wealth-tax assessment, should be excluded. The Tribunal emphasized that business assets like land should be excluded from wealth-tax assessment and noted that assets not wholly owned by the assessee and part of the real estate business's stock-in-trade should not be included in the net wealth. The appeals filed by the assessee were allowed for statistical purposes, and the matter was referred back to the Wealth-tax Officer for further assessment. Case-Laws Wealth-tax Mon, 24 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382122