PR. COMMISSIONER OF WEALTH TAX-6 vs. MID AIR PROPERTIES PVT. LTD.

$~60, 61 & 62 * IN THE HIGH COURT OF DELHI AT NEW DELHI + WTA 6/2016

PR. COMMISSIONER OF WEALTH TAX-6 .....Appellant Through: Mr. Puneet Rai, SSC with Mr. Ashvini Kr., Mr. Rishabh Nangia, Mr. Gibran, JSC & Mr. Ankit, Advs.

versus

MID AIR PROPERTIES PVT. LTD.

.....Respondent Through: Mr. Satyen Sethi, Mr. Arta Trana Panda & Ms. Gargi Sethee, Advs. (61) + WTA 7/2016

PR. COMMISSIONER OF WEALTH TAX-6 .....Appellant Through: Mr. Puneet Rai, SSC with Mr. Ashvini Kr., Mr. Rishabh Nangia, Mr. Gibran, JSC & Mr. Ankit, Advs.

versus

MID AIR PROPERTIES PVT. LTD.

.....Respondent Through: Mr. Satyen Sethi, Mr. Arta Trana Panda & Ms. Gargi Sethee, Advs. (62) + WTA 8/2016

PR. COMMISSIONER OF WEALTH TAX-6 .....Appellant Through: Mr. Puneet Rai, SSC with Mr. Ashvini Kr., Mr. Rishabh Nangia, Mr. Gibran, JSC & Mr. Ankit, Advs.

versus

MID AIR PROPERTIES PVT. LTD.

.....Respondent Through: Mr. Satyen Sethi, Mr. Arta Trana Panda & Ms. Gargi Sethee, Advs.

CORAM:

HON'BLE MR. JUSTICE DINESH MEHTA

HON'BLE MR. JUSTICE VINOD KUMAR This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 10/06/2026 at 14:37:03

O R D E R %

12.01.2026 1. These appeals have been filed by the Department claiming that the finding recorded by the Income Tax Appellate Tribunal, Delhi Bench ‘E’ vide its order dated 26.04.2016, based on a simple assertion on the part of the assessee that it had transferred the land to its sister concern, namely, Ansal Properties and Infrastructure Limited, (referred to in the answer) is per se erroneous. Because, the land in parcels in question were purchased in the year of 1996 and even in the year under consideration, these lands were reflected in the respondent’s balance sheet. 2. Learned counsel for the respondent, at the outset, submitted that the amount involved in all the appeals is below the prescribed limit of tax effect (less than Rs.1,00,00,000/-) and, therefore, in the light of the Circular No.5/2019 dated 05.02.2019 issued by the Central Board Direct Taxes (hereinafter referred to as “CBDT”), these appeals are liable to be withdrawn/dismissed. 3. Mr. Puneet Rai, learned Senior Standing Counsel for the appellant on the other hand, submitted that true it is, that under the Circular no.5/2019 dated 05.02.2019, all wealth tax cases are also covered, if the amount involved is less than Rs.1,00,00,000/-, but a new Circular no.5/2024 dated 15.03.2024 has been issued CBDT, wherein an exception in relation to matters relating to wealth tax has been carved out as given in clause (k) of para no.3.1 of the said Circular, which runs as under: “k. Matters related to wealth tax, fringe benefit tax, equalization levy and any matter other than the Income Tax Act, or” 4. Mr. Arta Trana Panda, learned counsel for the respondent, invited This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 10/06/2026 at 14:37:03

Court’s attention towards para no.10 of the said circular, which reads thus: “10. This issues under Section 268A of the Act and shall come into effect from the date of issue of this Circular. This Circular will apply to SLPs/appeals to be filed henceforth before the SC/HCs/Tribunals.” 5. In view of the aforesaid, we have no doubt that the Circular no.5/2024 dated 15.03.2024 shall apply only to those appeals or SLPs which are to be filed after 15.03.2024. Since the present appeals were filed in the year 2016, obviously, the circular dated 05.02.2019 shall apply. And since the tax effect in all the appeals is below the tax effect limit given in the circular no.5/2019, all the appeals are disposed in the light of the CBDT circular no.5/2019. 6. For the purpose of clarity, the tax involvement relating to all the appeals given hereunder: Sl. No. Appeal number Assessment year Amount 1. WTA 6/2016 2005-06 Rs.32,74,885/- 2. WTA 7/2016 2007-08 Rs.27,51,849/- 3. WTA 8/2016 2006-07 Rs.25,37,885/-

DINESH MEHTA, J

VINOD KUMAR, J JANUARY 12, 2026/sr

This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 10/06/2026 at 14:37:03