2012 (5) TMI 695 - AT - Wealth-tax

Summary

Issues involved: Appeals against orders of Commissioner of Wealth Tax (Appeals) for assessment years 2004-05 to 2006-07, common grounds raised by assessees regarding levy of Wealth Tax on agricultural lands.

Common Grounds of Appeal:
1. Challenge to the order of the Commissioner of Wealth Tax (Appeals) as against the law and facts of the case.
2. Dispute over whether 'agricultural lands' fall within the scope of the term 'Asset' u/s 2(ea)(v) of the Wealth Tax Act, 1957.
3. Argument that Wealth Tax on agricultural lands is excluded under specific provisions of the Constitution of India.
4. Allegation that the Commissioner erred in not considering established legal positions regarding 'Urban Land' and 'agricultural lands'.
5. Claim that agricultural land cannot be considered a 'non-productive asset' under the Wealth Tax Act, 1957.
6. Assertion that agricultural activities constitute a business, thus excluding agricultural land from the definition of 'asset'.
7. Highlighting restrictions on construction on agricultural lands under regional planning laws.
8. Request to quash Notice u/s 17 due to lack of valid reasons.
9. Disagreement with non-acceptance of wealth-tax return by the Assessing Officer.

The parties did not dispute the facts narrated by the Revenue Authorities. The issue in dispute had been previously decided against the assessee by the Supreme Court in a related case. The assessee challenged the vires of Wealth Tax on agricultural lands under section 2(ea)(v) of the Wealth Tax Act, 1957. The Department contended that the issue had been settled in favor of the Revenue by the Supreme Court's decision. The Tribunal noted the settled legal position and dismissed the appeals filed by the assessees based on the Supreme Court's order. The Tribunal clarified that it lacked jurisdiction to adjudicate on the vires of the levy of Wealth Tax on agricultural land.

In conclusion, the Tribunal found no reason to interfere with the first appellate authority's well-reasoned order on the issues raised by the assessees. Therefore, all fifteen appeals were dismissed.