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Additional wealth-tax on urban immovable property: properties situated outside the country are excluded from the levy. The instruction holds that the amended Schedule to the Wealth Tax Act must be read as referring only to urban areas in India; properties situated outside India are not to be taken into account for the levy of the additional wealth-tax, and the Central Government cannot practically issue notifications under the Schedule for foreign localities or rely on foreign administrative data for determining urbanisation abroad.
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Provisions expressly mentioned in the judgment/order text.
Additional wealth-tax on urban immovable property: properties situated outside the country are excluded from the levy.
The instruction holds that the amended Schedule to the Wealth Tax Act must be read as referring only to urban areas in India; properties situated outside India are not to be taken into account for the levy of the additional wealth-tax, and the Central Government cannot practically issue notifications under the Schedule for foreign localities or rely on foreign administrative data for determining urbanisation abroad.
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