2019 (5) TMI 442

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.....Vijayaraghavan For the Respondent : Mr.T.Ravikumar, Senior Standing Counsel. JUDGMENT DR.VINEET KOTHARI, J. Assessee has filed these Appeals under Section 27A of the Wealth Tax Act,1957, aggrieved by the orders passed by the learned Income Tax Appellate Tribunal, dated 17.08.2005 and 01.09.2005, for various Assessment Years from 1995-1996 to 1998-1999, by which, the Appeals filed by the Asses....

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.... the case, the Tribunal was right in confirming the order of the lower authorities when the same has been passed in an intimation under Section 16 (1) (a) when the issues are highly debatable ?'' 3. The only issue raised before the learned Tribunal by the Assessee was, as to whether 'Transit House' fell within the definition of 'Assets', as defined in Section 2 (ea) of the....

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....sue in favour of the Assessee. 7. However, learned Senior Standing Counsel for the Revenue has submitted that there are some judgments, which are against the Assessee, on the issue. In support of his case, the learned Senior Standing Counsel has relied upon the decisions of Madras High Court in Salem Cohttp:// operative Sugar Mills v. Commissioner of Income Tax, (1999) 240 ITR 910, and Binny Ltd.....