Supreme Court · 2015 INSC 518 · Decided 24 July 2015
Giridhar G. Yadalam v. Commissioner of Wealth Tax &ANR.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 518 · [2015] 15 S.C.R. 543
- Case number
- CIVIL APPEAL No. 728/2011
- Decided
- 24 July 2015
- Bench
- A.K. SIKRI, R.F. NARIMAN (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
Headnote
A B Wealth Tax Act, 1957: s.2(ea)(v), Explanation 1 (b) - Urban land - Exemption to wealth tax - Held: Benefit of exemption in respect of urban land is available only when C the building is fully constructed and not when the construction activity has merely started - In the instant case, asses see under the clause as the building was still under construction during the assessment year. D Interpretation of Statutes: Taxing statute - Held: In taxing statute, it is the plain language of the provision that has to be preferred where language is plain and is capable of one definite meaning.
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