TaxTMI 
TaxTMI 
2009 (12) TMI 628
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....ondent-assessee. During the hearing senior counsel pointed out that the issue involved is whether urban land with semi-constructed building is wealth assessable under the Wealth-tax Act. Even though the tax effect is below the limit prescribed under paragraph 2 of Instruction No. 2 of 2005, for the Department to maintain the appeal before the Tribunal, senior counsel referred to clause (3) of the said instruction, which is as follows :"The Board has also decided that in cases involving substantial question of law of importance as well as in cases where the same question of law will repeatedly arise, either in the case concerned or in similar cases, should be separately considered on the merits with-out being hindered by the monetary limits.....
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....irst question to be considered is which is the Instruction to be followed for considering the maintainability of the appeals before the Tribunal and the second question to be considered is even if the provisions of the subsequent Instruction are applied, whether appeals are still maintainable by virtue of clause (11) of the said Instruction. When the Tribunal considered the maintainability of the appeals, Instruction No. 5 of 2008 was not there at all. In fact, they have considered the maintainability of the appeals with reference to Instruction No. 2 of 2005 which in exception clause (3) provides for entertaining of appeals below the tax effect if the question of law involved is substantial question of law of importance as well as ....