High Court Rules Leased Property for Banking Business Subject to Wealth Tax u/s 40(3)(vi) of Finance Act 1983.

Assessee has leased out the property to the lessee for running banking business, which is not the business activity of the assessee - assessee does not fall within the exclusionary clause mentioned in section 40(3)(vi) of the Finance Act, 1983 - Chargeable to wealth tax - HC .....

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