W.T.A. NO.328/HQB OF 1989-90 versus W.T.A. NO.328/HQB OF 1989-90
Wealth Tax Act 1963 Section 7 Wealth Tax Rules, 1963, R8 (3) CBR Circular No. 14 (7) WT / IT VI / 79, Dated 21 8 1979 C, BR Circular No 8 (II) W T / 79, Dated 25 8 1982 CBR Circular No. L (2), WT / 94, Date 17 7 1996 Asset Assessment Commercial Building and Shop Instructions CBR Circular No. 14 (7) WT / I In VII / 79, dated 21 8 1979, the case of commercial buildings and shops will be assessed at the cost of the building when it is used and not leased out, as it provides for Section 7, Wealth Tax. Is against the provisions of the Act, 1963 and R8 (3). , Wealth Tax Rules, 1963, termed the above provisions extremely offensive and consequently did not have the commercial property to occupy the Essex for its own business, therefore, it can be inferred.
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