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TMI Blog2019 (5) TMI 441X X X X Extracts X X X X X X X X Extracts X X X X ..... PER SHRI S.S. VISWANETHRA RAVI, JM: Both these appeals are filed by the assessee directed against the orders of the ld. Commissioner of Income Tax (Appeals)-13, Kolkata (hereinafter the 'ld. CIT (A)'), passed under the Wealth Tax Act 1957(the 'Act'), both dated 23.10.2017 for the Assessment Years 2004-05 & 2005-06. 2. The assessee has raised five grounds of appeal. Ground Nos.1 & 2 are dismisse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and and building of the Partnership Firm viz. M/s. United Paper Products situated at 3, Canal East Road, Kolkata arbitrarily and wrongly determined by the Assessing Officer in the sum of Rs. 4,05,96,800." 3. The facts of the issue are brought out in the reasons recorded for reopening the assessment u/s 16(3) of the Wealth Tax Act 1957. This is extracted for ready reference: "The firm M/s United ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the W.T. Act 1957. It was submitted that this firm had land and building which was used for manufacturing corrugated boards and that the firm acquired plant and machinery which was installed in the said property which was used for manufacturing activity. It was submitted that manufacturing operation were temporary suspended, due to market condition, lack of working capital and other problems. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entions, we find that the assessee has produced following evidences in support of its contention that the asset, in question, was a commercial establishment: "i. No objection certificate from West Bengal Control Board. ii. Electricity bills wherein the rate of electricity charged was the rates applicable to industrial unit. iii. Property tax bills wherein the Kolkata Municipal Corporation ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t years for manufacturing activity and when what was sold was commercial establishment it cannot be classified as urban land u/s 2(ea) of the Act. In our view, the land with structures which was used in earlier years for manufacturing, is not an asset within the canopy of section 2(ea) of the W.T. Act. It is in our view continues to be a commercial asset. Thus, we delete the addition made herein f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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