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TMI Blog2019 (4) TMI 1546X X X X Extracts X X X X X X X X Extracts X X X X ..... issioner of Wealth Tax (Appeals) [CWT(A)]-3, Visakhapatnam dated 29.03.2018 and the cross objections are filed by the assessee in support of the order of the CWT (A). For the sake of convenience, the appeals are clubbed, heard together and a common order is being passed as under. W.T.A.No.06/Viz/2018& CO No.84/Viz/2018,A.Y.2009-10 2. This is an appeal filed by the revenue against the order of the CWT(A). In this case, the Assessing Officer (AO) passed two wealth tax assessment orders for the A.Y.2009-10, u/s 16(3) r.w.s.17 of the Wealth Tax Act, 1957 (in short 'Act') dated 31.03.2015 and 26.10.2016. The Ld.CWT(A) passed common order for both the assessment orders vide dated 29.03.2018. 3. Against the orders of the CWT(A), the department ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce, worked out the SRO value of the property at Rs. 2400/- per sft and valued the 50% of the share of the assessee at Rs. 11,52,000/- as taxable wealth and the same was brought to wealth tax. 5. Aggrieved by the order of the AO, the assessee went on appeal before the CWT(A) and the Ld.CWT(A) deleted the addition made by the AO observing that the AO simply inferred that the flat was not let out for more than 300 days contrary to the factual position. 6. Against the order of the CWT(A), the department has filed appeal before this Tribunal. During the appeal hearing, the Ld.DR relied on the order of the AO, against which, the Ld.AR relied on the order of Ld.CWT(A). 7. We have heard both the parties and perused the material placed on record ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, by an order dated 26.10.2016. The AO reopened the assessment for escapement of wealth relating to vacant land situated at Rajahmundry consisting of one acre of agricultural land. The AO observed that the assessee is holding one acre of land at Rajahmundry which was not disclosed in the wealth tax returns. Since the assessee also did not furnish the details before the AO, the AO held that the land at Rajahmundry is a vacant urban land and accordingly, the value of land of Rs. 90,000/- was brought to wealth tax. 10. Against the order of the AO, the assessee went on appeal before the CWT(A) and the Ld.CWT(A) found that the land is an agricultural land. The CWT(A) perused the documents filed before him and accordingly found that the land is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion in the balance sheet clearly indicates that it is an agricultural land. The Assessing Officer did not have any material to say that this is not an agricultural land. On a perusal of the document evidencing the purchase of land and also the pass book, I find that the land is an agricultural land. Hence, I find merit in the contention of the appellant. Hence, the addition of Rs. 90,000/- made by the Assessing Officer for the A.Y. 2009-10 and Rs. 2.20,000/- made for the A.Ys. 2010- 11 to 2013-14 is directed to be deleted." 5. On appeal before us, ld. Departmental Representative relied on the order passed by the Assessing Officer, but not point out any error committed by the ld. CWT(A). We have gone through the assessment order and also t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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