Let-out Commercial Property is not to be considered as Asset for Wealth Tax purposes

CA Kanhaiya Kumar Agarwal

Brief Facts of the Case and Question of Law:

Brief Facts

The Assessing Officer while computing the total wealth of the assessee added the value of the let-out properties i.e. godown and offices in the total wealth of the assessee for the purpose of calculating the wealth-tax. The assessee claimed that the let-out properties are not assets within the meaning of section 2(e

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