Wealth tax


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 July 2014 Is delivery van used in business of assesse includible as an Asset under Wealth Tax?

30 July 2014 no as it falls in exception case and not includible since its used for business

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 July 2014 Can you please provide the case law or provision where such exception is given

30 July 2014 refer sec 2(ea) and under motor vehicles it mentions exception that vehicle used for business is exempted.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 July 2014 It says motor car used as stock in trade and not "used in business"

30 July 2014 then what is the business of assessee?

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 July 2014 Business is manufacturing

30 July 2014 then it will be included in the definition of asset.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 July 2014 Ok.Thank you sir for your reply

30 July 2014 you are welcome friend..........................


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details