IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WEALTH TAX APPEAL (L) NO.55 OF 2005 Commissioner of Wealth-tax-9 ..Appellant Versus M/s.Autoriders Finance & Investments Ltd. ..Respondents ---- Mr.S.M.Shah with Mr.Sandeep Wasnik & Mr.P.S.Sahadevan for the appellant. Mr.P.J.Pardiwala with Mr.N.Sahu i/by S.K.Srivastava & Co. for the respondents. ---- Coram : F.I.Rebello & Coram : F.I.Rebello & Coram : F.I.Rebello & R.S.Mohite,JJ R.S.Mohite,JJ R.S.Mohite,JJ Date : 20.02.2008 PC 1. This is an appeal filed by a Revenue against the order of the Tribunal dated 14.5.2004 whereby the appeal filed by the Revenue has been dismissed. The Tribunal upheld the order of the Commissioner (Appeals). Both, Tribunal as well as Commissioner (Appeals) had proceeded on the judgment of the Calcutta bench ‘E’ s order in the case of M/s.Shroff M/s.Shroff M/s.Shroff Leasing (P) Ltd., Vs. Asstt. Commissioner of Leasing (P) Ltd., Vs. Asstt. Commissioner of Leasing (P) Ltd., Vs. Asstt. Commissioner of Wealth-tax Wealth-tax Wealth-tax reported in (58 ITD 273). 2. We do not find in the order of the Commissioner (Appeals) or ITAT that the nature of the agreement or the terms thereof have been considered in arriving at the conclusion that the motor cars were : 2 : given on hire. Only when the cars are given on hire would it be exempted under Sections 2 (ea) of the Wealth Tax Act. 3. In the light of the above, order of the Commissioner (Appeals) ITAT is set aside and the matter is referred back to the Commissioner (Appeals) for recording the findings of fact. Appeal disposed off accordingly. (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J)