Divya Rathi v. Wealth-tax Officer, Ward-29(5), New Delhi
[Citation -2019-LL-0903-56]
| Citation | 2019-LL-0903-56 |
|---|---|
| Appellant Name | Divya Rathi |
| Respondent Name | Wealth-tax Officer, Ward-29(5), New Delhi |
| Court | ITAT-Delhi |
| Relevant Act | Wealth-tax |
| Date of Order | 03/09/2019 |
| Assessment Year | 2013-14 |
| Judgment | View Judgment |
| Keyword Tags | retrospective effect • documentary evidence • purchase of agricultural land • scrutiny assessment • taxable wealth • agricultural purpose • urban land • sale deed • net wealth |
| Bot Summary: | Briefly stated relevant facts are that during the financial year 2012-13, assessee along with other members of her family, had 2 purchased an agricultural land situated at a KH No. 98/13 MIN and 18 MIN Village Dera Mandi, New Delhi in which she holds 25 of interest. During the course of scrutiny under section 16 of the Wealth Tax Act, learned Assessing Officer treated the agricultural land as taxable wealth and made an addition of Rs.1,17,30,000/- being the cost of the said land. In appeal, Ld. CWT(A) upheld the view of the assessing officer on the ground that despite specifically being asked by the learned Assessing Officer to establish that the land in question was used for agricultural purposes, the assessee failed to discharge onus and a perusal of the statement of facts revealed that the assessee was simply relying on the fact that the land in question is an agricultural land as per the Revenue records, but in the absence of any documentary evidence to establish that the land was used for agricultural purposes, during the year under consideration or in the earlier or subsequent the period, simply on the basis of the land Revenue record and specifications therein does not establish that the land was used for agricultural purposes. It is submitted by the Ld. AR that the land purchased by the assessee during the year under consideration is not chargeable to wealth tax in view of the Finance Bill 2013 which says that the land 3 classified as an agricultural land in the record of the government and used for agricultural purposes, will not be treated as an asset under section 2(ea) of the Wealth-tax Act with retrospective effect from the assessment year 1993-94 and the sale deed in this case shows that the land purchased is an agricultural land and use factor is also agricultural. He further brought to our notice, assessee purchased the land along with three others, namely, Smt. Sonal Rathi, Smt. Sushma Rathi and Smt. Akriti Rathi in whose case also the learned Assessing Officer treated the same as an asset under section 2(ea) of the Wealth-tax Act treating the same as an urban land, but when the matter travel to the Tribunal in the case of Smt. Sonal Rathi and Smt. Sushma Rathi in WTA Nos.16 17/Del/2017 by order dated 24/01/2019 held that the land in question is an agricultural land and not to be included in the computation of the net wealth of the 3ssesses. Though the Ld. DR vehemently supported the orders of the authorities below, but did not controvert the fact that in the case of the other three co-owners, the Tribunal held that the land in 4 question is the agricultural land and shall not be included in the computation of net wealth of the assessee. We while respectfully following the consistent view taken in the case of co-owners, hold that the said piece of land is an agricultural land and shall not be brought to tax in the hands of the assessee. |