https://www.taxtmi.com/caselaws?id=9038 The High Court of Madras upheld the validity of including agricultural lands as assets for wealth-tax purposes under the Wealth-tax Act, 1957. The court rejected the argument that taxing agricultural lands was beyond Parliament's legislative competence. Regarding the alleged discriminatory nature of the proviso to section 5(1)(iva) of the Act, the court found that the differential treatment between exemptions for house properties and agricultural lands was rational and did not violate Article 14 of the Constitution. The court dismissed the writ petitions challenging the assessment orders and awarded costs to the respondent. en-us Thu, 23 Nov 1972 00:00:00 +0530 Thu, 18 Jun 2009 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9038 The High Court of Madras upheld the validity of including agricultural lands as assets for wealth-tax purposes under the Wealth-tax Act, 1957. The court rejected the argument that taxing agricultural lands was beyond Parliament's legislative competence. Regarding the alleged discriminatory nature of the proviso to section 5(1)(iva) of the Act, the court found that the differential treatment between exemptions for house properties and agricultural lands was rational and did not violate Article 14 of the Constitution. The court dismissed the writ petitions challenging the assessment orders and awarded costs to the respondent. Case-Laws Wealth-tax Thu, 23 Nov 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9038