https://www.taxtmi.com/caselaws?id=371649 The court clarified that lands where construction is not permissible do not automatically qualify as 'urban land' under the Wealth Tax Act. The exclusion clause was interpreted to require approval for construction rather than absolute prohibition. Specific properties were deemed part of the Assessee's net wealth based on the permissibility of construction post obtaining authority sanction. The court directed the Tribunal to reconsider the case, emphasizing the need to address all grounds raised by the Assessee for a comprehensive decision. en-us Mon, 03 Dec 2018 00:00:00 +0530 Tue, 25 Dec 2018 16:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371649 The court clarified that lands where construction is not permissible do not automatically qualify as 'urban land' under the Wealth Tax Act. The exclusion clause was interpreted to require approval for construction rather than absolute prohibition. Specific properties were deemed part of the Assessee's net wealth based on the permissibility of construction post obtaining authority sanction. The court directed the Tribunal to reconsider the case, emphasizing the need to address all grounds raised by the Assessee for a comprehensive decision. Case-Laws Wealth-tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371649