The Commissioner Of Wealth Tax v. M/S.rama Chemicals Pvt. Ltd

bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WEALTH TAX APPEAL NO.1272 OF 2009 The Commissioner of Wealth Tax Vs. M/s.Rama Chemicals Pvt. Ltd. ..Appellant ..Respondent Mr.Vimal Gupta for appellant. Mr.A.K.Jasani for respondent. CORAM :- V.C.DAGA & J.P.DEVADHAR,JJ. DATE : 17TH SEPTEMBER, 2009 P.C. 1.Heard learned Counsel for the parties. Perused appeal. 2.The Tribunal, after appreciation of evidence, has recorded a finding of fact reading as under: “6......................It is pertinent to note that the AO himself in the beginning of the assessment order has stated that property given as rent was a commercial property and therefore, as per clause (5) to Section 2(ea)(i) of the Act, such commercial property will not be subject to wealth tax. In our opinion the phrase ‘any property’ in clause (5) to section 2(ea)(i) of the W.T.Act will include part of the property i.e. commercial complex owned by different assessee. In view of the above, we incline to uphold the order of the Ld.CIT(A).” 3.No fault can be found with the view taken by the Tribunal. The view taken is a reasonable and possible view in the facts and circumstances of the case. Appeal is without any substance. Hence, the same stands dismissed with no order as to costs. (J.P.DEVADHAR,J.) (V.C.DAGA,J.)