https://www.taxtmi.com/forum/issue?id=1895 Classification for wealth tax depends on whether the industrial land with an existing factory building is vacant urban land or an exempt commercial/industrial property; if the asset is capable of business use or is in the nature of a commercial establishment or complex it is exempt from wealth tax, whereas the tax authority treats unused premises as vacant land, so factual questions about usability, industrial zoning, and the statutory exemption wording must be resolved. en-us Fri, 23 Apr 2010 17:27:26 +0530 Thu, 23 Jan 2025 15:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1895 Classification for wealth tax depends on whether the industrial land with an existing factory building is vacant urban land or an exempt commercial/industrial property; if the asset is capable of business use or is in the nature of a commercial establishment or complex it is exempt from wealth tax, whereas the tax authority treats unused premises as vacant land, so factual questions about usability, industrial zoning, and the statutory exemption wording must be resolved. Discussion-Forum Indian Laws Fri, 23 Apr 2010 17:27:26 +0530 https://www.taxtmi.com/forum/issue?id=1895