https://www.taxtmi.com/caselaws?id=25811 The High Court ruled in favor of the Revenue, denying individual partners' claim for exemption under section 5(1)(iva) of the Wealth-tax Act, stating that agricultural lands owned by a firm should be considered as belonging to the firm, not the individual partners. Additionally, the Court upheld the Commissioner's jurisdiction to revise the Wealth-tax Officer's order on points not considered by the Appellate Assistant Commissioner, based on the doctrine of merger. en-us Thu, 19 Dec 1985 00:00:00 +0530 Mon, 01 Feb 2010 10:46:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25811 The High Court ruled in favor of the Revenue, denying individual partners' claim for exemption under section 5(1)(iva) of the Wealth-tax Act, stating that agricultural lands owned by a firm should be considered as belonging to the firm, not the individual partners. Additionally, the Court upheld the Commissioner's jurisdiction to revise the Wealth-tax Officer's order on points not considered by the Appellate Assistant Commissioner, based on the doctrine of merger. Case-Laws Wealth-tax Thu, 19 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25811