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TMI Blog2018 (10) TMI 1055X X X X Extracts X X X X X X X X Extracts X X X X ..... ontrary to the facts. In the absence of such step, we do not see any reasons to interfere in the orders of the ld.CIT(A), hence, all the appeals of Revenue in the case of Kantibhai T. Savaliya is dismissed. As far as appeals of Shri Harshadbhai K. Savaliya, he was also owner and in possession of two types of land; one claim which is agriculture land within ambit of municipal limit, and another nonagriculture land under construction. CIT(A) has accepted the fact that agriculture land are not required to be included in the net wealth of the assessee on account of amendment made in the Wealth Tax Act by Finance Act, 2013. As far as non-agriculture lands are concerned, constructions have been commenced on them. The ld.CWT(A) has been satisfied with the quality of evidence produced by the assessee in this regard. There is no disparity of facts qua the facts of Shri Kantibhai T. Savaliya, which we have discussed in the earlier part of the order, wherein we have noticed the finding of the ld.CIT(A) in the Asstt.Year 2007-08. Taking into consideration all these aspects, we do not find any merit in these appeals, thus dismissed. - WTA No.15 to 17/WTA/2018 And WTA No.18 to 20/WTA/2018 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of municipal limit and ceased to be agriculture land, and assessable for the purpose of wealth-tax. As far as land stated to be under-construction activity, he observed that the assessee failed to produce certificate from the local authorities exhibiting commencement of construction activities, hence, he included the value of these assets for the purpose of wealth-tax in the net wealth of the assessee for all these three years. On appeal, the ld.CIT(A) has deleted the inclusion of these assets in the net wealth of the assessee. Finding recorded by the ld.CIT(A) in the Asstt.Year 2007-08 on both these issues are worth to note. It reads as under: 3.2. Decision : I have carefully gone through the above submission of the appellant alongwith the paper book and the impugned assessment order. During the course of assessment proceedings itself, the appellant had filed copy of 7/12 Extract alongwith purchase deed evidencing the nature of land as agricultural land as per government records which is compiled at Paper book filed before me. The appellant in his submission has contended that the A.O. has not properly considered the amendment in Finance Act 2013 of newly inserted sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n or AUDA. Further, no construction is permissible on any land until and unless land is converted into non-agricultural land and lands claimed exempted by appellant are agricultural land which is clearly proved from 7/12 extracts submitted during assessment proceedings. Further, In support of the contention that agricultural lands owned by the appellant being in agricultural zone no construction is permissible as per the Laws of Local Authority Municipal Corporation or AUDA and is not covered under assets in wealth tax as per Section 2(ea)(v). In support of the above contention of the appellant, he has relied following legal judgments :- i) Commissioner of Income-tax vs. E. Udaykumar [2006] 284 ITR 511 (MAD.) ii) Commissioner of Wealth-tax, Faridabad vs. R.K. Mehra [2009] 184 TAXMAN 285 (PUNJ. HAR.). iii) Amin Chand Mehta vs. Commissioner of Wealth-tax, (2015) 58 taxmann.com 316 (Himachal Pradesh). iv) M.R. Raghuram v. Wealth Tax Officer Income-tax Department, [2013] 38 taxmann.com 54 (Karnatakar) The above judgments are applicable in case of the appellant. In view of the detailed discussion made herein above, the appellant has rightly observed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled by the appellant and it has been understand that in respect of land at 194/B Muthiya (Sunvilla - I) and land at Vastral S.1133, the appellant had already obtained construction commencement letter from the relevant local authority. The appellant had entered into the development agreement with developer firm Savaliya Builders with respect to land at 194/B Muthiya (Sunvilla-l). The construction commencement letters and the development agreement entered into by the appellant were duly submitted by him to the A.O. which were compiled at paper book submitted before me. The A.O.'s observation that appellant had not furnished any evidence to show that construction activity had actually started at the said land is not correct. The appellant has to submit that the receipt of commencement letter with respect to 194/B B Muthiya (Sunvilla - I) and land at Vastral S.1133 and development agreement of 194/B, Muthiya (Sunvilla - I), which are sufficient to justify the fact that construction activity had already started. The construction activity was carried out by developer firm Savaliya Builders and the expenses related to the same were booked in books of Developer Firm. During the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat construction has commenced. Now this is a finding of fact recorded by the ld.CIT(A) who is at a higher pedestal in the hierarchy. The ld.first Appellate Authority has observed that observation of the AO qua non-commencement of construction is factually incorrect. This finding of the fact could be reversed only if the something is brought to our notice. No material has been brought to our notice, which can show that this finding of fact is contrary to the facts. In the absence of such step, we do not see any reasons to interfere in the orders of the ld.CIT(A), hence, all the appeals of Revenue in the case of Kantibhai T. Savaliya is dismissed. 6. As far as appeals of Shri Harshadbhai K. Savaliya, he was also owner and in possession of two types of land; one claim which is agriculture land within ambit of municipal limit, and another nonagriculture land under construction. The ld.CIT(A) has accepted the fact that agriculture land are not required to be included in the net wealth of the assessee on account of amendment made in the Wealth Tax Act by Finance Act, 2013. As far as non-agriculture lands are concerned, constructions have been commenced on them. The ld.CWT(A) has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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