Gujarat HC to decide tax appeal on classification of lands as 'assets' under Wealth-tax Act

The Gujarat HC admitted a tax appeal to determine if specific lands qualify as 'assets' under the Wealth-tax Act, 1957 for the assessment year 2000-2001. A civil application was disposed of due to lack of pursuit by the applicant.

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The Gujarat High Court admitted a tax appeal to consider whether certain lands are considered 'assets' under the Wealth-tax Act, 1957 for the assessment year 2000-2001. A civil application was disposed of as the applicant did not press it at that stage.

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