2019 (1) TMI 479

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....adekar a/w Mr. Ruturaj Gurjar for the Respondent P.C.: 1. These appeals arise out of the common background. We may refer the facts from Wealth Tax Appeal No. 516 of 2016. 2. Wealth Tax Appeal No. 516 of 2016 is preferred by the revenue challenging the judgment of the Income Tax Appellate Tribunal ("Tribunal" for short) dated 8.7.2015. Following questions are presented for our considera....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ated as commercial complex, which is the condition to be eligible for commercial complex as well as assets to be exempted, as laid down in Section 2(ea)(i)(5) of the Wealth Tax Act?" 3. The respondent - assessee is an individual. The issue pertains to her wealth tax return for the assessment year 2010-11 and revolves around interpretation of Section 2(ea) of the Wealth Tax Act, 1957 ("the Act" ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....entually reached the Tribunal. The Tribunal confirmed the view of the appellate authority and dismissed the revenue's appeal. The Tribunal referred to and relied upon a decision of the Division Bench of Gujrat High Court in the case of CIT, Rajkot-II Vs. Vasumatiben Chhaganlal Virani [2013[ 37 taxmann.com 216 (Gujarat) and rejected the revenue's contention. 6. Section 2(ea) of the Act d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ong as the property in question is a commercial establishment or complex, this exclusion clause would apply. This exclusion clause nowhere requires that to fall within this exception, the property in question must have multiple units in the nature of commercial establishments. The revenue's stress on the word "establishments" used in plural, is not quite acceptable. The term "commercial establ....