The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) in Wealth Tax Officer versus M/s. Chavva Estates Private held that commercial asset which is capable of productive use is not eligible to wealth tax. In the instant case, the Assessee bought a property along with two company comprising of land and building being a cinema […]
The post Wealth Tax not leviable on Commercial Asset which is Capable of being put to Productive Use: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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