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TMI Blog2015 (6) TMI 770X X X X Extracts X X X X X X X X Extracts X X X X ..... B. K. Vasuki, J.) All these Tax Case Appeals are filed by the Revenue against the order of the Tribunal, relating to the Assessment Years 2003-04, 2004-05 and 2005-06 respectively, raising the following questions of law : 1) Whether on the facts and circumstances of the case, the Tribunal was right in upholding the order of the CIT(A) who directed the assessing officer to exclude the value of the land at Ambattur while computing the net wealth of the assessee? 2) Whether on the facts and circumstances of the case, the land sold at Ambattur would fall within the exclusion clause of proviso to Section 2(ea) of the Wealth Tax Act? 2.The issue that arises for consideration herein is as to whether the land at Ambattur sold by the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the view that there was no infirmity or flaw in the order passed by the learned CIT(A). The relevant paras 7 and 8 of the impugned order of the Tribunal are reproduced hereunder: 7.We have heard both the sides, considered the material on record and also gone through the relevant provisions of law as well as approved site map filed before the Assessing Officer and copy placed before us and find that the ld.CIT(A), while considering the plea of the assessee in the light of remand report obtained from the Assessing Officer and objections filed by the assessee has concluded to exclude such land from the definition of asset as per proviso to section 2(ea) of the Wealth Tax Act. The relevant paras from 20 to 24 reproduced as under : 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per enjoyment of the buildings constructed on the land. In this sense, the argument of the Ld AR has force that once a building is constructed on the land, then it ceases to be vacant land and becomes land and building. A reading of the provisions of Section 2(ea) would make it clear that the terms urban land does not include land on which any building is constructed. 23.In this connection, it may be appropriate to refer to the observations of the Delhi High Court in the case of CWT vs. D.C.M.Ltd., (290 ITR 615) wherein at page 621, the said High Court has held as under : In the maxim, generalia verba sunt generaliter interlligenda it would be helpful precept to interpretation of the provisions which uses the words of general would ..... X X X X Extracts X X X X X X X X Extracts X X X X
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