https://www.taxtmi.com/caselaws?id=275849 Agricultural land does not become "urban land" for wealth-tax purposes merely because it lies within municipal limits or a notified urban area. Under the Karnataka Land Revenue Act, land remains agricultural until conversion permission is obtained from the Deputy Commissioner for non-agricultural use or construction; accordingly, where building construction is not permissible without such approval, the exclusion in Explanation 1(b) to Section 2(ea) of the Wealth-tax Act applies. On that reasoning, the land retained its agricultural character and the wealth-tax assessment treating it as urban land was unsustainable. en-us Tue, 23 Jul 2013 00:00:00 +0530 Sat, 20 Oct 2018 10:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275849 Agricultural land does not become "urban land" for wealth-tax purposes merely because it lies within municipal limits or a notified urban area. Under the Karnataka Land Revenue Act, land remains agricultural until conversion permission is obtained from the Deputy Commissioner for non-agricultural use or construction; accordingly, where building construction is not permissible without such approval, the exclusion in Explanation 1(b) to Section 2(ea) of the Wealth-tax Act applies. On that reasoning, the land retained its agricultural character and the wealth-tax assessment treating it as urban land was unsustainable. Case-Laws Wealth-tax Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275849