2021 (2) TMI 624

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Rao Revenue by : Shri Sunil Kumar ORDER PER BENCH This assessee's appeal for AY 2011-12 is directed against the CWT(A) - 10, Hyderabad's order dated 20/11/2018 passed in case No. 0002/CWT(A)-10/Hyd/2015-16 involving proceedings u/s 16(3) rws 17(1) of the Wealth Tax Act, 1961 ; in short "the Act". We have heard both the parties. Case file perused. 2. The assessee has raised the f....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....in deriving the exemption u/s. 5(vi), by not taking the land measurement of two plots together as not exceeding 500 sq. mts. 5. The Ld. CIT (A) ought to have held that the assessee is entitled to beneficial of exemption ul s. 5(vi) of the value limited to 500 sq.mts and not to deny the benefit otherwise allowable, simply on the reason the measurement of two plots together exceeded 500 sq ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r part of house which is less than 500 sq. mts. 9. The Appellant may add or alter or amend or modify or substitute or delete and/ or rescind all or any of the grounds of appeal at any time before or at the time of hearing of the appeal." 3. We have given our thoughtful consideration to rival submissions against and in support of the impugned addition. We notice from a perusal of the As....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....records that this assessee and his wife are the co-owners/co-purchasers thereof. And that the former's share neither exceeds the threshold limit of 500 sq.mts. or more as per the exemption clause u/s 5(vi) of the Act. The assessee and his wife purchased these two plots on 23/02/2011 by way of as many sale deeds; both dated 23/02/2011 through their power of attorney. There is also no material to su....