2023 (5) TMI 1414 - SCH - Income Tax

Commercial Establishments or Complexes under the Wealth Tax Act 1957 - As decided by HC 2017 (7) TMI 1474 - DELHI HIGH COURT ITAT correctly held that the properties of Assessee at Connaught Circus New Delhi and Sardar Mohan Singh Building Connaught Lane New Delhi were Commercial Establishments or Complexes and therefore outside the purview of assets under Section 2 (ea) (i) (5) of the Wealth Tax Act 1957 (WTA)? -maintainability of appeal on low tax effect - HELD THAT - Revenue has stated at the Bar that the tax amount involved in the present Appeal is lower than the monetary limit fixed to prefer an Appeal before this Court. Therefore he has requested to dispose of the present Appeals on the ground of low tax effect only keeping the question of law open. In view of the above both the Appeals stand disposed of on the ground of low tax effect only.

Summary

The Supreme Court of India disposed of the appeals due to low tax effect, keeping the question of law open. Appellant represented by Mr. Balbir Singh and others, while no representation for the respondent. Justices M.R. Shah and C.T. Ravikumar presided over the case.