https://www.taxtmi.com/caselaws?id=56666 The Tribunal ruled in favor of the assessee, finding no evidence of under-valuation in the share of a firm for wealth tax assessment. It held that the additional wealth tax on urban assets, including business premises, was not chargeable as the legislative intent exempted them from such tax. The Tribunal emphasized the clear exemption of business premises from additional wealth tax and set aside the Commissioner's order, directing a reconsideration of the assessee's appeal on its merits. en-us Wed, 21 Aug 1985 00:00:00 +0530 Mon, 06 Dec 2010 11:56:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56666 The Tribunal ruled in favor of the assessee, finding no evidence of under-valuation in the share of a firm for wealth tax assessment. It held that the additional wealth tax on urban assets, including business premises, was not chargeable as the legislative intent exempted them from such tax. The Tribunal emphasized the clear exemption of business premises from additional wealth tax and set aside the Commissioner's order, directing a reconsideration of the assessee's appeal on its merits. Case-Laws Income Tax Wed, 21 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56666