https://www.taxtmi.com/caselaws?id=17912 The High Court directed the Tribunal to reassess the classification of lands to determine if they were agricultural or non-agricultural for wealth-tax valuation. Factors such as actual use, physical characteristics, and owner's intention should be considered. The reassessment would impact the assessee's entitlement to exemption under section 5(1)(iva) of the Wealth-tax Act, 1957, and the valuation of the lands. The judgment emphasized the importance of a comprehensive evaluation of relevant factors in determining the nature and valuation of lands for wealth-tax assessment. en-us Fri, 06 Dec 1996 00:00:00 +0530 Fri, 25 Sep 2009 15:38:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17912 The High Court directed the Tribunal to reassess the classification of lands to determine if they were agricultural or non-agricultural for wealth-tax valuation. Factors such as actual use, physical characteristics, and owner's intention should be considered. The reassessment would impact the assessee's entitlement to exemption under section 5(1)(iva) of the Wealth-tax Act, 1957, and the valuation of the lands. The judgment emphasized the importance of a comprehensive evaluation of relevant factors in determining the nature and valuation of lands for wealth-tax assessment. Case-Laws Wealth-tax Fri, 06 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17912