https://www.taxtmi.com/caselaws?id=427669 Cash shown in a business balance sheet of an individual engaged in trade was treated as part of the business asset, not personal cash, and therefore outside the taxable cash in hand covered by section 2(ea) of the Wealth Tax Act. Land on which construction of a building was in progress was treated as an active construction site, not vacant urban land, and therefore not taxable as an asset under section 2(ea). On both issues, the wealth-tax additions were not sustained. en-us Wed, 06 Jul 2022 00:00:00 +0530 Wed, 14 Sep 2022 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427669 Cash shown in a business balance sheet of an individual engaged in trade was treated as part of the business asset, not personal cash, and therefore outside the taxable cash in hand covered by section 2(ea) of the Wealth Tax Act. Land on which construction of a building was in progress was treated as an active construction site, not vacant urban land, and therefore not taxable as an asset under section 2(ea). On both issues, the wealth-tax additions were not sustained. Case-Laws Wealth-tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427669