https://www.taxtmi.com/caselaws?id=64922 The Tribunal held that the land on which godowns were constructed did not qualify as agricultural land under section 5(1)(iva) of the Wealth-tax Act. The construction and use of the godowns changed the land's nature from agricultural to non-agricultural, making it ineligible for exemption. The Tribunal set aside the Appellate Assistant Commissioner's decision and upheld the Wealth-tax Officer's assessment to include the value of the godowns in the assessee's net wealth. The revenue's appeals were allowed, and the AAC's orders were overturned. en-us Tue, 10 May 1988 00:00:00 +0530 Fri, 11 Feb 2011 11:59:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64922 The Tribunal held that the land on which godowns were constructed did not qualify as agricultural land under section 5(1)(iva) of the Wealth-tax Act. The construction and use of the godowns changed the land's nature from agricultural to non-agricultural, making it ineligible for exemption. The Tribunal set aside the Appellate Assistant Commissioner's decision and upheld the Wealth-tax Officer's assessment to include the value of the godowns in the assessee's net wealth. The revenue's appeals were allowed, and the AAC's orders were overturned. Case-Laws Wealth-tax Tue, 10 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64922