2008 (1) TMI 208

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....against the order passed by I.T.A.T. in two Wealth Tax Appeals for the assessment year 2002-03 and 2003-04. In the present appeal, we are concerned with the assessment year 2002-03. The first question framed for the consideration reads as under : "Whether on the facts and in the circumstances of the case and in law, the Tribunal's was justified in holding that the flats in the impugned premises....

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....oviso to Rule 3 of Schedule III to the Act vis-a-vis the rent capitalization espoused by the Appellant as mandated by main part of the said Rule 3?" 4. The learned tribunal reproduced the relevant rule which is second proviso to Rule 3 of Schedule III of the Wealth Tax Act and which reads as under : "Provided further that where such property is acquired or constructed of which is completed a....

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....in exacting the Appellant with interest under Section 17B?" 8. We find from the order of the Tribunal that this was not in issue and consequently is not required to be answered. 9. That leaves us question No. 2 which reads as under : "Whether on the facts and in the circumstances of the case and in law whether the Tribunal was correct in adjudicating ground no. 1 of the memo of appeal onl....