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W.T.AS. NOS.816/IB OF 1998-99 AND 175/1B OF 1999-2000 versus W.T.AS. NOS.816/IB OF 1998-99 AND 175/1B OF 1999-2000

Section 16, 14C, 14B, 14 (1) (D), 13A and 13D Taxes of the Wealth Tax Act, 1963, the assessee is the tax collector in the case of tax collection on immovable property. The officer's advance payment is based on the gross annual ling ting value and includes the value of the net assets of the assessee tax liabilities or the default net wealth calculated at the normal rates. Taxes under 14C were also fixed. , The tax liability was also increased in relation to the house in 1963 and in relation to the net wealth. The Assisi claimed that a separate block of assets has been constituted to receive the tax under the assets listed in section 14 (1) (d) of the Wealth Tax Act, 1963. The provision of section 14C of the Wealth Tax Act, 1963, has previously instructed the appellate authority to consider a dwelling house as a separate block of assets for taxation under the relevant provision of law. The dated assets referred to in section 14 (1) (d) did not constitute a separate block of assets for tax purposes, provided that in section 14C (1) only a person with immovable assets Is referred to in Section 14 (1) (d). The Wealth Tax Act, 1963, shall pay the wealth tax at the rates set out in paragraph B of Part II of the Schedule, and nothing in section 14C was stated that the tax payable under the aforesaid section was taxable. The final exit was. Section 14C (2) of the assets read with section 13D (2) of the Wealth Tax Act 1963, indicates that the tax under section 14C is not subject to the advance tax exemption under section 14C. patent advocate from Leepa lawyer