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TMI Blog2018 (5) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... issue in those years. For such reasons, we are convinced that the matter should be remanded to the CWT (A) for fresh consideration on merits and in accordance with law. Tax Case Appeal is allowed, the impugned order is set aside, and the matter is remanded to the CWT (A) for fresh consideration to decide the following two issues along with the facts and circumstances of the case after notice to the assessee:- i) Whether for the purpose of determining the market value of the property under wealth Tax only actual rent received should be taken without including the charges collected separately towards service and maintenance? ii) Whether amenities do not form part of the rent for the purpose of valuing the property under Wealth Tax A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal was right in holding that for the purpose of determining the market value of the property under wealth Tax only actual rent received should be taken without including the charges collected separately towards service and maintenance? ii) Whether the Tribunal was right in holding that amenities do not form part of the rent for the purpose of valuing the property under Wealth Tax Act? 4. The assessment under the Wealth Tax Act was completed by the respondent under Section 16 (3) of the Act, by an order, dated 20.03.1995. The issue was with regard to the assessee's claim that, amenities do not form part of the rent for the purpose of valuing the property under rent capitalization method under Schedule III of the Wealth Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubstantial questions of law were not the issue in those years. For such reasons, we are convinced that the matter should be remanded to the CWT (A) for fresh consideration on merits and in accordance with law. 7. Accordingly, the Tax Case Appeal is allowed, the impugned order is set aside, and the matter is remanded to the CWT (A) for fresh consideration to decide the following two issues along with the facts and circumstances of the case after notice to the assessee:- i) Whether for the purpose of determining the market value of the property under wealth Tax only actual rent received should be taken without including the charges collected separately towards service and maintenance? ii) Whether amenities do not form part of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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