https://www.taxtmi.com/caselaws?id=36245 A combine harvester owned by the assessee and given on hire did not qualify for exemption under section 5(1)(ix) of the Wealth-tax Act because the statutory condition requires the assessee's own use of the tool, implement or equipment for cultivation, maintenance or harvesting activities. Hiring the machine out meant the assessee used it for the business of hiring, not for agricultural operations, and any agricultural use by the hirer could not satisfy the provision. Its value was therefore includible in the assessee's net wealth. en-us Wed, 10 Dec 1980 00:00:00 +0530 Sat, 20 Mar 2010 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36245 A combine harvester owned by the assessee and given on hire did not qualify for exemption under section 5(1)(ix) of the Wealth-tax Act because the statutory condition requires the assessee's own use of the tool, implement or equipment for cultivation, maintenance or harvesting activities. Hiring the machine out meant the assessee used it for the business of hiring, not for agricultural operations, and any agricultural use by the hirer could not satisfy the provision. Its value was therefore includible in the assessee's net wealth. Case-Laws Wealth-tax Wed, 10 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36245