Supreme Court of India
Giridhar G. Yadalam v. Commissioner of Wealth Tax &anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the view taken by the High Court of Karnataka in its judgment dated 21.03.2007 is the correct view in law and the contrary view taken by the Kera la and Madras High Courts is erroneous and is liable to be set aside.
Judgment, page 9
From the headnote
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 the building is fully constructed and not when the construction activity has merely started - In the instant case, asses see is not entitled to benefit of exemption under the clause as the building was still under construction during the assessment year. 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
Authorities it was built on
Where later benches applied it
- 2022 The State of Maharashtra v. Shri Vile Parle Kelvani Mandal & Ors.
- 2023 Supriyo @ Supriya Chakraborty & Anr v. Union of India
- 2020 Commissioner of Income Tax, Udaipur v. M/s. Chetak Enterprises Pvt. Ltd.
Of those, 1 relied on · 1 mentioned · 1 not applicable
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