TaxTMI 
TaxTMI 
TaxTMI 
2012 (5) TMI 205
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....n these years are same. For the sake of convenience, the grounds of appeal in assessment year 2005-06 are reproduced as under:- 1. That the notice issued u/s 17 is illegal, bad in law and without jurisdiction and the re-assessment order passed is also illegal, bad in law, without jurisdiction and liable to be quashed. 2. That in view of the facts and circumstances of the case, the CWT (A) has erred in law and on facts in upholding the addition of Rs. 32,78,400/- made by the Assessing Officer to wealth of the assessee on account of Urban Land while the said land is an agriculture land, which is an exempt asset under the Wealth Tax Act. 3. The CWT (A) has, in view of the facts and circumstances of the ca....
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.... The Assessing Officer issued notice u/s 16(2) of the WT Act on 22.11.2010 fixing the date of hearing on 17.11.2010. The assessee filed returns of wealth on 15.12.2010 declaring net wealth as under:- Assessment year Amount 2005-06 Rs. 8315/- 2006-07 Rs. 11,730/- 2007-08 Rs. 13,220/- 2008-09 Rs. 4,66,380/- Assessing Officer after conducting enquiries as well as the material filed by the assessee completed assessments for all the four years on 23rd December, 2010. 4. Before Ld CWT(A), the assessee took a ground in all the four assessment years that initiation of proceedings u/s 17 of the WT Act was on wrong facts and therefore re-assessment order proceedings were invalid and unjustified and not maintainable. However, no submissio....
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.... u/s 17 of the WT Act, we are of considered view that the arguments involving investigation of facts and law cannot be taken before the Tribunal. Accordingly, we do not find any infirmity in the order passed by ld CWT(A) dismissing the ground relating to reopening of assessments in all the four years. 7. The next issue for consideration which is common in all the appeals relates to assessing the agriculture lands under WT Act as urban land. The facts of the case stated in brief are that the assessee soled 16 bighas agriculture land valuing Rs. 32,78,400/- within the Municipal Limits and 40 bighas agriculture land valuing Rs. 50,40,540/- outside the Municipal Limits. The Assessing Officer deputed his Inspector to ascertain the location of l....
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....t given earlier should be treated as genuine. The assessee was asked to give the comments on same. The Ld CWT(A) considered the submissions made by the assessee. He also considered the submissions and clarifications given by S.D.M. Shamli according to which up to assessment year 2007-08 the impugned land remained agricultural land. The Ld CWT(A) noted that up to assessment year 1978-79 crops like potatoes, chili and maize were raised on impugned land. From the year 1978-79, there was chackbandhi (consolidation). Therefore, the revenue department had no record for year-wise crops grown and as such there was no record after year 1978-79. Ld CWT(A) also noted that the Amin was not authorized to issue certificate whether on the impugned land ag....
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....at the impugned lands were agriculture lands and agriculture crops were grown thereon and therefore the same is not liable to wealth-tax. He further submitted that impugned land cannot be treated urban land as construction of a building is not permissible. On the other hand, Ld Sr. DR supported the order of the Ld CWT(A) for all the four years. 10. We have heard the parties and gone through the material available on record. There is no dispute about the fact that the impugned lands were within the Municipal limits of Shamli. U/s 2(ea) of the Act, Urban land is liable to wealth tax. Clause (b) of Explanation-1 to section 2(ea)(v) defines the Urban Land as under:- (b) "urban land" means land situate- "(i) in any area which is compris....