https://www.taxtmi.com/caselaws?id=169445 Parliament's power to levy wealth-tax on land other than agricultural land was upheld under Entry 86 of List I, because land forms part of "assets" and the entry receives a broad construction; the contrary gift-tax analogy was rejected as turning on different constitutional footing. Agricultural land was held to mean land used or capable of being used for agriculture, and its character must be judged by present use and condition. Land that had been requisitioned, levelled, and used as an air strip for years was therefore non-agricultural and within the wealth-tax charge. en-us Thu, 09 Aug 1962 00:00:00 +0530 Tue, 21 Apr 2015 10:42:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169445 Parliament's power to levy wealth-tax on land other than agricultural land was upheld under Entry 86 of List I, because land forms part of "assets" and the entry receives a broad construction; the contrary gift-tax analogy was rejected as turning on different constitutional footing. Agricultural land was held to mean land used or capable of being used for agriculture, and its character must be judged by present use and condition. Land that had been requisitioned, levelled, and used as an air strip for years was therefore non-agricultural and within the wealth-tax charge. Case-Laws Income Tax Thu, 09 Aug 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169445