Land on which construction has started is not Asset for Wealth Tax Purposes

CA Kanhaiya Kumar Agarwal

Brief Facts of the Case and Question of Law:

Brief Facts

The assessee held a plot of land and had progressively constructed the Complex on it. This fact is evident from the expenditure shown under work-in-progress on construction as per the audited accounts. The complex was under construction from assessment year 2004-05 to assessment year 2007-08.The assessee has been given permission to

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