COMMISSIONER OF WEALTH TAX Vs. CHARANJIT SINGH

JUDGEMENT

(1.) This appeal has been preferred by the revenue under Section 27-A of the Wealth Tax Act, 1957 (for short, "the Act") against the order of the Income Tax Appellate Tribunal, Chandigarh dated 26.9.2007 in W.T.A.No.27/Chd/2006 for the assessment year 2003-04 claiming following substantial question of law:-

(2.) During the assessment, the assessee objected to inclusion of the land in dispute in the definition of assets under Section 2(ea) of the Act on the ground that the land was agricultural land beyond the prescribed distance from the municipal limits. The Assessing Officer rejected the said objection but the CWT(A) sustained the same, which has been affirmed by the Tribunal. The CWT(A) observed:-

(3.) The above finding has been affirmed by the Tribunal.