https://www.taxtmi.com/caselaws?id=20864 The court held that the petitioner was not entitled to exemption under section 5(1)(xviii) of the Wealth-tax Act as the land inherited was not directly received from the Government for gallantry. The amount of Rs. 37,000 related to Daryapur land was to be included in the net wealth but discounted for deferred payment. The valuation of 3,851 fruit-bearing trees as fuel wood was upheld due to pending acquisition for urbanization. The Appellate Tribunal's valuation of urban and suburban land at Rs. 5 and Rs. 4 per square yard was deemed appropriate and upheld based on relevant considerations. en-us Tue, 19 Jan 1993 00:00:00 +0530 Tue, 17 Nov 2009 16:32:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20864 The court held that the petitioner was not entitled to exemption under section 5(1)(xviii) of the Wealth-tax Act as the land inherited was not directly received from the Government for gallantry. The amount of Rs. 37,000 related to Daryapur land was to be included in the net wealth but discounted for deferred payment. The valuation of 3,851 fruit-bearing trees as fuel wood was upheld due to pending acquisition for urbanization. The Appellate Tribunal's valuation of urban and suburban land at Rs. 5 and Rs. 4 per square yard was deemed appropriate and upheld based on relevant considerations. Case-Laws Wealth-tax Tue, 19 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20864