Unused urban land held by assessee for industrial purposes not assessable to Wealth Tax for a period of two years from the date of acquisition

ITAT Mumbai Bench ‘Wealth Tax’ Mars Hotels & Resorts (P.) Ltd. V/s. Deputy Commissioner of Wealth Tax WT Appeal Nos. 9 to 11 (Mum) of 2010 [Assessment Years 1996-97 to 1998-99] May 9, 2012 ORDER 1. These appeals by the assessee are directed against the composite order dated 14.1.2010 of CWT(A) for the AYs 1996-97, 97-98 and 98-99 respectively. 2. Since the grounds taken in all the AYs are common; therefore, for the sake of convenience, the ground taken for the AY 1996-97 are reproduced hereunder: (1)  The Commissioner of Wealth Tax (Appeals)- 17, Mumbai (here...