IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 15TH JULY 2009 / 24TH ASHADHA 1931 WTA.No. 68 of 2009() -------------------- WTA.143/COCH/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT --------------------------------------- THE COMMISSIONER OF WEALTH TAX, COCHIN. BY ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): RESPONDENT ------------------------- TRAVANCORE COCHIN CHEMICALS LTD., UDYOGAMANDAL. THIS WEALTH TAX APPEAL HAVING COME UP FOR ADMISSION ON 15/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & C. K. ABDUL REHIM, JJ. -------------------------------------------- W.T.A. No.68 OF 2009 -------------------------------------------- Dated this the 15th day of July, 2009 JUDGMENT Ramachandran Nair,J. Appeal is filed against the order of the Tribunal in the Wealth Tax Appeal filed by the department for the year 1998-99. The question involved is whether the value of 20 acres of land held by the assessee should be included in the net wealth. The land involved is used for setting up of power plant by another company and therefore according to the department the land was not utilised by the respondent making them liable for wealth tax. However, both the appellate authorities found that the power plant was set up by a company in which the respondent has invested by way of land and therefore it is a joint venture. In view of this finding of the appellate authorities, we do not find any justification to interfere with the orders of the authorities below. Consequently appeal is dismissed. (C.N.RAMACHANDRAN NAIR) Judge. (C. K. ABDUL REHIM) Judge. 2