Commissioner Of Wealth-Tax vs Riviera Apartments (P.) Ltd.
1997 Latest Caselaw 860 Del

Citation : 1997 Latest Caselaw 860 Del
Judgement Date : 24 September, 1997

Delhi High Court

Commissioner Of Wealth-Tax vs Riviera Apartments (P.) Ltd. on 24 September, 1997

Bench: J Mehra, R Lahoti

ORDER

1. The learned counsel for the assessee-respondent has invited our attention to section 40 of the Finance Act, 1983 which is relevant for the purpose of the assessment year in question. The relevant provision is clause (iv) of sub-section (3) of section 40 thereof. It is clearly provided that building or part there of used by the assessee as factory, godown, warehouse, hotel or office for the purposes of its business is not to be included in the assets of the assessee. The building or part thereof might have been stock-in-trade; still it was in the use of the assessee as contemplated by clause (vi) of sub-section (3), then it is not to be included in the assets of the assessee. It has been found as a fact that the building was in self-use of the assessee as godown/warehouse. As the finding in one purely of fact, no referable question of law arises from the order of the Tribunal.

2. The application under section 256(2) of the Income-tax Act is, therefore, rejected.

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