https://www.taxtmi.com/caselaws?id=14552 The reference concerned whether agricultural land was owned by an assessee individually or by his Hindu undivided family for wealth-tax purposes. Because the Revenue did not challenge the findings that money-lending investment, cash, and ornaments also belonged to the family and were excluded from the assessee's net wealth, the remaining agricultural land could not create taxable wealth and the assessment would still fall below the exemption limit. The court therefore treated the referred question as merely academic and returned the reference unanswered. en-us Fri, 15 Oct 1999 00:00:00 +0530 Fri, 17 Jul 2009 11:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14552 The reference concerned whether agricultural land was owned by an assessee individually or by his Hindu undivided family for wealth-tax purposes. Because the Revenue did not challenge the findings that money-lending investment, cash, and ornaments also belonged to the family and were excluded from the assessee's net wealth, the remaining agricultural land could not create taxable wealth and the assessment would still fall below the exemption limit. The court therefore treated the referred question as merely academic and returned the reference unanswered. Case-Laws Wealth-tax Fri, 15 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14552