https://www.taxtmi.com/caselaws?id=25487 The High Court held that the assessees, who contributed agricultural properties as capital in firms, were entitled to exemption under section 5(1)(iva) of the Wealth-tax Act. The Court ruled in favor of the assessees in both sets of cases, affirming that the agricultural properties qualified as agricultural land and that the assessees could claim the exemption for their share of interest in the firms. The judgments were disposed of accordingly, with directions to forward the decision to the Appellate Tribunal. en-us Wed, 24 Jun 1987 00:00:00 +0530 Fri, 29 Jan 2010 10:34:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25487 The High Court held that the assessees, who contributed agricultural properties as capital in firms, were entitled to exemption under section 5(1)(iva) of the Wealth-tax Act. The Court ruled in favor of the assessees in both sets of cases, affirming that the agricultural properties qualified as agricultural land and that the assessees could claim the exemption for their share of interest in the firms. The judgments were disposed of accordingly, with directions to forward the decision to the Appellate Tribunal. Case-Laws Wealth-tax Wed, 24 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25487