Penalty Notice issued without stating Reasons for Furnishing Inaccurate particulars, Concealment of Wealth is Invalid: ITAT [Read Order]
In T.S.Kalyana Chakravarthy v. Dy Director of Wealth Tax IT & TP, the. Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) recently...
Land & Building Method is the Appropriate Method of Valuation of Cinema Theatre for Wealth Tax Assessment: SC [Read Judgment]
Last week, the Supreme Court of India passed an order regarding which method to be applied for valuation of the ‘Alpana Cinema’ situated at Model town, New Delhi for wealth tax assessment. There, had...
Money belonging to assessee which was deposited in the P.D A/c of Dept on Valuation date is not subject to Wealth Tax: ITAT Hyderabad [Read Order]
In Shri B. Rajeswar Rao v. ACIT, a division bench of the Hyderabad ITAT held that the cash seized from the assessee during search cannot be made liable to Wealth Tax if the same was deposited with the...
![Money belonging to assessee which was deposited in the P.D A/c of Dept on Valuation date is not subject to Wealth Tax: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Wealth-Tax-Taxscan.jpg "Money belonging to assessee which was deposited in the P.D A/c of Dept on Valuation date is not subject to Wealth Tax: ITAT Hyderabad [Read Order]")
Gold contained Horse Chariot, used by Royal Family for Special Occasions are Exempted from Wealth Tax: Gujarat HC [Read Judgment]
In Shantadevi P. Gaekwad v. W.T.O, the division bench of the Gujarat High Court held that the gold contained Horse Chariot or Royal Buggy used by the members of royal family for ceremonial occasions...
![Gold contained Horse Chariot, used by Royal Family for Special Occasions are Exempted from Wealth Tax: Gujarat HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/06/Horse-Chariot.jpg "Gold contained Horse Chariot, used by Royal Family for Special Occasions are Exempted from Wealth Tax: Gujarat HC [Read Judgment]")
The Possession & Control of the Property Vests with the Assessee is Liable to Pay Wealth Tax : Delhi HC [Read Judgment]
The Delhi High Court recently declared that the ownership of the property can be presumed for the purpose of wealth tax if the possession and control of the property in dispute vests upon the...
