2016 (8) TMI 1120 - HC - Wealth-tax

Eligibility of exemption from Wealth Tax under the provisions of Section 2(ea) of the Wealth Tax Act, 1957 whether lands were being used by the assessee for industrial purposes ? Held that - The issue has been decided against the appellant by a Division Bench judgment of this Court The Commissioner of Wealth Tax, Patiala versus M/s Industrial Cables (India) Limited 2013 (4) TMI 832 - PUNJAB AND HARYANA HIGH COURT

Summary

The High Court of Punjab and Haryana dismissed an appeal under Section 27A of the Wealth-Tax Act, 1957. The appellant questioned whether lands used for industrial purposes were exempt from Wealth Tax. The court cited a previous judgment and ruled against the appellant. Appellant's appeal was dismissed.