1992 (7) TMI 109

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T(A)-VII, Bombay and relates to the assessment year 1988-89. 2. The solitary ground taken in this appeal projects the following grievance : " On the facts and in the circumstances of the case and in law the learned CWT(A) erred in holding that value of operational vehicles like jeeps should not be included in net wealth as these cannot be termed as motor cars. " 3. Shri Keshav Prasad, ld.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....jeeps as utility vehicles. It was further contended that the provisions of section 40 of the Finance Act, 1985, being a charging section, ought to be construed strictly. The meaning of the term 'motor car' cannot be stretched so as to include within its ambit, " jeeps " also. A " jeeps " cannot be classified as a " motor car ". To support this contention, Smt. Vissanji, placed her reliance on the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... be confined to " motor cars " alone. Had the Legislature intended to include 'jeeps' in the assets, chargeable to wealth-tax, the same would have been expressly included. 6. We have heard the rival submissions in the light of material placed before us and precedents relied upon. The assessee carries on dairy business. On the relevant valuation date, it owned two jeeps. Section 40 of the Financ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ial Dictionary 4th Edition at page 1712 the term 'motor' is defined vide entry 3 as under : " A petrol-driven tractor was a motor car within the meaning of Art. II(3) of the Motor Cars (Use and Construction) Order, 1904 : See Dennis v. Leonard, 141 LT 944. " Vide entry 10 on page 1713, 'motor car' is defined as a 'mechanically propelled vehicle, not being a motor cycle or an invalid carriage....