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Wealth-tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Assessee has leased out the property to the lessee for running ...


High Court Rules Leased Property for Banking Business Subject to Wealth Tax u/s 40(3)(vi) of Finance Act 1983.

April 2, 2015

Case Laws     Wealth-tax     HC

Assessee has leased out the property to the lessee for running banking business, which is not the business activity of the assessee - assessee does not fall within the exclusionary clause mentioned in section 40(3)(vi) of the Finance Act, 1983 - Chargeable to wealth tax - HC

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