https://www.taxtmi.com/circulars?id=8757 The Finance Act, 1969 included agricultural land within the definition of assets for wealth-tax. Following a High Court ruling that such inclusion is ultra vires the Constitution, the administration has sought leave to appeal. Pending a contrary higher forum decision, wealth-tax officers within the jurisdiction bound by that ruling must take no further steps - including surveys or assessments - to tax agricultural assets; in other jurisdictions assessments should proceed under existing instructions. en-us Thu, 21 Oct 1971 00:00:00 +0530 Thu, 26 May 2011 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8757 The Finance Act, 1969 included agricultural land within the definition of assets for wealth-tax. Following a High Court ruling that such inclusion is ultra vires the Constitution, the administration has sought leave to appeal. Pending a contrary higher forum decision, wealth-tax officers within the jurisdiction bound by that ruling must take no further steps - including surveys or assessments - to tax agricultural assets; in other jurisdictions assessments should proceed under existing instructions. Circulars Income Tax Thu, 21 Oct 1971 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8757