https://www.taxtmi.com/caselaws?id=172505 Land assessed as agricultural and not yet converted for non-agricultural use may still fall outside the wealth-tax exemption if its character has changed. The decisive enquiry is the land's general nature, judged from surrounding circumstances such as location, development, past use, and the owner's conduct; actual cultivation strongly supports agricultural character, but assessment records and lack of conversion permission are only relevant factors, not conclusive. Here, the plots lay in a fully residential town-planning area, had not been cultivated for years, and one had been bought at a high price in a developed locality, so they were not agricultural land and were includible in net wealth. en-us Tue, 10 Nov 1964 00:00:00 +0530 Mon, 24 Aug 2015 12:07:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172505 Land assessed as agricultural and not yet converted for non-agricultural use may still fall outside the wealth-tax exemption if its character has changed. The decisive enquiry is the land's general nature, judged from surrounding circumstances such as location, development, past use, and the owner's conduct; actual cultivation strongly supports agricultural character, but assessment records and lack of conversion permission are only relevant factors, not conclusive. Here, the plots lay in a fully residential town-planning area, had not been cultivated for years, and one had been bought at a high price in a developed locality, so they were not agricultural land and were includible in net wealth. Case-Laws Wealth-tax Tue, 10 Nov 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172505