https://www.taxtmi.com/caselaws?id=60818 The Appellate Tribunal ruled in favor of the assessee in a wealth tax assessment case for the assessment year 1979-80. The Tribunal held that the deposit made by the assessee for a plot of land allotted by a cooperative society was not taxable under the Wealth-tax Act, 1957. It determined that the plot of land was not a building or part thereof, and the limited rights of the assessee were not transferable or marketable, leading to the deletion of additional taxable amounts. The appeal was partially allowed in favor of the assessee. en-us Mon, 18 Jul 1983 00:00:00 +0530 Sat, 08 Jan 2011 11:54:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60818 The Appellate Tribunal ruled in favor of the assessee in a wealth tax assessment case for the assessment year 1979-80. The Tribunal held that the deposit made by the assessee for a plot of land allotted by a cooperative society was not taxable under the Wealth-tax Act, 1957. It determined that the plot of land was not a building or part thereof, and the limited rights of the assessee were not transferable or marketable, leading to the deletion of additional taxable amounts. The appeal was partially allowed in favor of the assessee. Case-Laws Wealth-tax Mon, 18 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60818