https://www.taxtmi.com/caselaws?id=69166 The tribunal ruled in favor of the appellant company, holding that the factory site under construction was not taxable under wealth tax assessment. Despite the incomplete building on the valuation date, the site was actively being utilized for industrial purposes, distinguishing it from vacant land. The tribunal interpreted the legislative intent to exclude land used for business purposes from taxation, ultimately annulling the assessment and allowing the appeal. en-us Wed, 14 Nov 1990 00:00:00 +0530 Tue, 05 Apr 2011 15:12:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69166 The tribunal ruled in favor of the appellant company, holding that the factory site under construction was not taxable under wealth tax assessment. Despite the incomplete building on the valuation date, the site was actively being utilized for industrial purposes, distinguishing it from vacant land. The tribunal interpreted the legislative intent to exclude land used for business purposes from taxation, ultimately annulling the assessment and allowing the appeal. Case-Laws Income Tax Wed, 14 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69166