https://www.taxtmi.com/caselaws?id=28367 The court affirmed the Tribunal's decision that the land in question was agricultural land within the meaning of s. 2(e)(1)(i) of the Wealth-tax Act, 1957. Therefore, the value of the land was not included in computing the net wealth of the assessee for the assessment years 1965-66 to 1969-70. The court emphasized the importance of the land's actual condition and intended use, not just its potentiality, in determining its agricultural nature. The Revenue failed to provide evidence to rebut the presumption that the land was agricultural, leading to the court upholding the Tribunal's decision. en-us Fri, 16 Jul 1982 00:00:00 +0530 Mon, 22 Feb 2010 10:19:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28367 The court affirmed the Tribunal's decision that the land in question was agricultural land within the meaning of s. 2(e)(1)(i) of the Wealth-tax Act, 1957. Therefore, the value of the land was not included in computing the net wealth of the assessee for the assessment years 1965-66 to 1969-70. The court emphasized the importance of the land's actual condition and intended use, not just its potentiality, in determining its agricultural nature. The Revenue failed to provide evidence to rebut the presumption that the land was agricultural, leading to the court upholding the Tribunal's decision. Case-Laws Wealth-tax Fri, 16 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28367