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of <h1>Supreme Court Appeal Filed Against High Court's Ruling on Wealth Tax for Agricultural Holdings in Punjab and Haryana.</h1> The High Court of Punjab and Haryana ruled that imposing wealth tax on agricultural holdings is unconstitutional. The board disagrees and has appealed to the Supreme Court. The Ministry of Law advised that this judgment applies to all assessees assessed by Wealth-tax officers in Punjab and Haryana, regardless of where their agricultural land is located. However, for assessees outside this jurisdiction, the value of agricultural land can be considered in net wealth assessments. The board instructs that no coercive measures should be taken to recover demands from assessees within the Punjab and Haryana jurisdiction if their net wealth includes such agricultural land.
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