Vijay.H. Patil, Senior Advocate Supreme Court
Land sold under MoU but conveyance and possession not given whether
liable to WT after MoU date; if so, value how calculated
a) Is Querist liable to Wealth-tax on value of land after MOU was entered into?
b) If yes, is he liable on MoU amount, stamp duty value at which
buyer has agreed to sell property further?

IT Sections: Wealth Tax Act, S.7 r.w. Schedule III, Rules 20, 21

Vijay.H. Patil, Senior Advocate Supreme Court
Flat for which OC not received whether liable to WT on basis that OC had
been applied for
(a) Whether WT s. 4(8) applies to Querist’s case?
(b) Whether date of application for OC could be treated
as date of completion?

IT Section: WT s.4(8), IT s.269UA(f)