https://www.taxtmi.com/caselaws?id=12019 The High Court upheld the Tribunal's decision to include motor cars, land, and the factory building in the net wealth of the appellant-company for wealth tax assessment. The Court ruled in favor of the Revenue, emphasizing that all these assets, including non-agricultural lands and motor cars, were subject to wealth tax as specified in the Finance Act, 1983. The Court clarified that the legislative intention was to include such assets in taxable wealth, regardless of their source of funds or classification under the Income-tax Act. en-us Wed, 04 Sep 2002 00:00:00 +0530 Sun, 14 Feb 2010 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12019 The High Court upheld the Tribunal's decision to include motor cars, land, and the factory building in the net wealth of the appellant-company for wealth tax assessment. The Court ruled in favor of the Revenue, emphasizing that all these assets, including non-agricultural lands and motor cars, were subject to wealth tax as specified in the Finance Act, 1983. The Court clarified that the legislative intention was to include such assets in taxable wealth, regardless of their source of funds or classification under the Income-tax Act. Case-Laws Wealth-tax Wed, 04 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12019