https://www.taxtmi.com/caselaws?id=36610 The court held that the right of the assessee to receive 10 candies of arecanut per year as owelty was not entitled to exemption under section 5(1)(iva) of the Wealth-tax Act, 1957. The Tribunal and court found that this right did not constitute agricultural land belonging to the assessee as it did not confer any interest in the land itself. The court distinguished between a charge and a mortgage, emphasizing that the right to receive arecanut was not inherently linked to any specific agricultural land. The parties were directed to bear their own costs. en-us Wed, 20 Feb 1980 00:00:00 +0530 Tue, 23 Mar 2010 13:39:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36610 The court held that the right of the assessee to receive 10 candies of arecanut per year as owelty was not entitled to exemption under section 5(1)(iva) of the Wealth-tax Act, 1957. The Tribunal and court found that this right did not constitute agricultural land belonging to the assessee as it did not confer any interest in the land itself. The court distinguished between a charge and a mortgage, emphasizing that the right to receive arecanut was not inherently linked to any specific agricultural land. The parties were directed to bear their own costs. Case-Laws Wealth-tax Wed, 20 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36610