Exemption u/s. 2(ea) of the WT Act - even if the property is ...

Case Laws Wealth-tax

November 24, 2015

Exemption u/s. 2(ea) of the WT Act - even if the property is utilized for commercial purposes by the tenant, still it is outside the ambit of wealth tax and assessee would automatically fall under the exclusion Clause No. 5 of section 2(ea)(1) - AT

View Source

← Previous Next →

Exemption u/s. 2(ea) of the WT Act - even if the property is ...

Case Laws Wealth-tax

November 24, 2015

You may also like:

Wealth tax - the commercial asset used by the assessee substantially and partly given on lease are not business assets and thus includible into the 'net wealth' u/s...

The case pertains to the applicability of Section 56(2)(x) of the Income Tax Act on the conversion of tenancy rights into ownership rights by a protected tenant. The key...

Warehouse utilized for business purposes by the assessee hence exempt u/s 2(ea)(i)(3) of the Wealth Tax Act - AT

The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

Business premises let out - Whether assessable as assets under section 2(ea) of Wealth tax or not - premises were not covered by exclusions provided under section 2(ea)(i) - AT

Inclusion of rented premises into wealth tax assessment - revenue yielding asset - section 2(ea)(i) nowhere requires that a commercial establishment or a complex could...

Determination of net wealth of assessee - Renting of property - once the rental income from the property is treated as “business income” and the character of the asset...

Commercial property u/s 2(ea) Explanation 5(1) – Exclusion of Value of Property – Net Wealth - it nowhere provides that only if such commercial complex was occupied by...

Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

Exemption from GST - Letting out of residential property for commercial use - Establishing the branch/office of the Lessee - The property in question has been...

Exemption u/s 11 - Denial of exemption disputing the charitable nature of activities carried out by the assessee in terms of section 2(15) - the assessee-authority is...

Recovery of Tax - Attachment and auction of property - Right of buyer of property in Auction - the dues as claimed by the respondent no.2, being a charge on the...

Exemption u/s 11 - Charitable activity u/s 2(15) - Commercial activity - Citing past decisions favorable to the trust under similar assessments, the Tribunal reiterated...

Section 2(ea)(i)(4) of the W.T Act does not contemplate the usage of residential property only for residential purpose. We find that this section only says the...

Purchase of goods by a company for personal use of its directors does not constitute "commercial purpose" u/s 2(1)(d) of the Consumer Protection Act, 1986. Commercial...

Quick Updates: