https://www.taxtmi.com/caselaws?id=427728 Agricultural land classified in Government records and used for agricultural purposes was excluded from the definition of urban land and was not liable to wealth-tax, so the Egattur land remained outside the charge. Property that had been fully developed into a built-up structure after planning permission was also not treated as urban land chargeable to wealth-tax, so the Velachery property was excluded. By contrast, where no return was filed and assessment was made for the first time on reopening, interest under section 17B was leviable in accordance with the regular assessment scheme, so the direction to recompute interest was reversed. en-us Fri, 29 Jul 2022 00:00:00 +0530 Thu, 15 Sep 2022 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427728 Agricultural land classified in Government records and used for agricultural purposes was excluded from the definition of urban land and was not liable to wealth-tax, so the Egattur land remained outside the charge. Property that had been fully developed into a built-up structure after planning permission was also not treated as urban land chargeable to wealth-tax, so the Velachery property was excluded. By contrast, where no return was filed and assessment was made for the first time on reopening, interest under section 17B was leviable in accordance with the regular assessment scheme, so the direction to recompute interest was reversed. Case-Laws Wealth-tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427728