2012 (9) TMI 948

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.... three appeals are filed by the revenue against order of the ld.CIT(A)-Central-I, Kolkata dated 28.02.2011 for A.Yrs. 2004-05, 2005-06 and 2007-08 respectively. 2. In all the three appeals the revenue has raised the following common ground for three assessment years :- "1. That the ld. CIT(A) has erred in treating the land at Bahadurgarh (UPC), land at Bahadurgarh (Emkay) & showroom at....

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....fice space which was let out comes to Rs. 28,66,913/-. Since the assessee was not using the office space having value of Rs. 28,66,913/- for its own office purpose, the same is taxable u/s 2(ea) of W.T.Act, 1957." Similarly he added an amount of Rs. 30,85,936/- on account of the same property as on 31.03.2005 to the net wealth of assessee for A.Yr. 2005-06 and an amount of Rs. 27,85,185/- as on....

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....ence considering above and the submission of the L.d A.r it is held that the land located at Bahadurgarh (UPCL) , Bahadurgarh (Emkay) / and the showroom located at Nagpur is not a txable wealth as per provision of the Wealth Tax Act. Accordingly the addition of the value of these assets made by the A.O is deleted. The appellant will get necessary relief accordingly." 3.2. Aggrieved by this the ....

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.... "2(ea) "assets" in relation to the assessment year commencing on the 1st day of April, 1993, or any subsequent assessment year, means - (i) any building or land appurtenant thereto (hereinafter referred to as "house"), whether used for residential or commercial purposes or for the purpose of maintaining a guest house or otherwise including a farm house situated within twenty-five kilom....