Supreme Court Rules Urban Land Subject to Wealth Tax Despite Construction; No Exemption for 'Productive Use'.

Supreme Court Rules Urban Land Subject to Wealth Tax Despite Construction; No Exemption for 'Productive Use'. https://www.taxtmi.com/highlights?id=27031 Exigibility of 'Urban Land' to wealth tax - submission was that the moment construction starts the urban land is put to 'productive use' and that entitles the land from exemption of wealth-tax. This argument of giving so called purposive interpretation has to be rejected - SC en-us Sun, 24 Jan 2016 16:42:37 +0530 Sun, 24 Jan 2016 16:42:37 +0530 TaxTMI RSS Generator Supreme Court Rules Urban Land Subject to Wealth Tax Despite Construction; No Exemption for 'Productive Use'. https://www.taxtmi.com/highlights?id=27031 Exigibility of 'Urban Land' to wealth tax - submission was that the moment construction starts the urban land is put to 'productive use' and that entitles the land from exemption of wealth-tax. This argument of giving so called purposive interpretation has to be rejected - SC Highlights Wealth-tax Sun, 24 Jan 2016 16:42:37 +0530 https://www.taxtmi.com/highlights?id=27031