https://www.taxtmi.com/caselaws?id=27978 The High Court denied wealth-tax exemption to a group of assessees owning the "Glenrock Estate," ruling that only 250 out of 4,465 acres qualified as agricultural land. The Court emphasized the necessity of concrete steps towards agricultural use, rejecting mere potential or historical cultivation as insufficient for exemption. The judgment clarified the stringent criteria for defining agricultural land under tax laws, requiring actual cultivation or clear preparation for agricultural purposes to qualify for exemptions. en-us Mon, 17 Jan 1983 00:00:00 +0530 Wed, 17 Feb 2010 11:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27978 The High Court denied wealth-tax exemption to a group of assessees owning the "Glenrock Estate," ruling that only 250 out of 4,465 acres qualified as agricultural land. The Court emphasized the necessity of concrete steps towards agricultural use, rejecting mere potential or historical cultivation as insufficient for exemption. The judgment clarified the stringent criteria for defining agricultural land under tax laws, requiring actual cultivation or clear preparation for agricultural purposes to qualify for exemptions. Case-Laws Wealth-tax Mon, 17 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27978