https://www.taxtmi.com/caselaws?id=32465 The BOMBAY HIGH COURT ruled that land used for internal roads and playgrounds of a factory is taxable under the Wealth Tax Act. The court held that such land should be considered taxable wealth of the company as it did not fall under exemptions outlined in the Act. Additionally, the court clarified that ownership of land, including approach and internal roads, is separate from municipal regulations and is determined independently. The court left the issue of ownership unanswered as the applicant had acknowledged ownership, disposing of the reference accordingly. en-us Fri, 20 Feb 2009 00:00:00 +0530 Thu, 15 Mar 2012 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32465 The BOMBAY HIGH COURT ruled that land used for internal roads and playgrounds of a factory is taxable under the Wealth Tax Act. The court held that such land should be considered taxable wealth of the company as it did not fall under exemptions outlined in the Act. Additionally, the court clarified that ownership of land, including approach and internal roads, is separate from municipal regulations and is determined independently. The court left the issue of ownership unanswered as the applicant had acknowledged ownership, disposing of the reference accordingly. Case-Laws Wealth-tax Fri, 20 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32465