https://www.taxtmi.com/caselaws?id=70160 The Tribunal allowed the appeal, ruling that the exclusion under section 5(1)(xxxii) of the Wealth Tax Act should not encompass the value of land or building unless specifically exempted under other clauses of section 5(1). The Tribunal directed that the computation made by the AAC be modified, with no deduction for the value of the land or building from the gross value of the assets. This decision favored the assessee, requiring a reworking of the computation based on the Tribunal's directions. en-us Fri, 04 Aug 1978 00:00:00 +0530 Thu, 14 Apr 2011 16:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70160 The Tribunal allowed the appeal, ruling that the exclusion under section 5(1)(xxxii) of the Wealth Tax Act should not encompass the value of land or building unless specifically exempted under other clauses of section 5(1). The Tribunal directed that the computation made by the AAC be modified, with no deduction for the value of the land or building from the gross value of the assets. This decision favored the assessee, requiring a reworking of the computation based on the Tribunal's directions. Case-Laws Wealth-tax Fri, 04 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70160