https://www.taxtmi.com/caselaws?id=61366 The Tribunal allowed the appeals, reinstating the orders of the Wealth Tax Officer and allowing refunds to the assessee for the assessment years 1974-75 and 1975-76. The Tribunal held that the High Court's decision in favor of the assessee for the assessment year 1976-77, regarding agricultural lands as business assets, applied to the earlier years as well. Therefore, the rectification orders by the WTO to withdraw refunds were deemed unwarranted, and the refunds were to be granted to the assessee. en-us Fri, 31 Jan 1986 00:00:00 +0530 Wed, 12 Jan 2011 13:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61366 The Tribunal allowed the appeals, reinstating the orders of the Wealth Tax Officer and allowing refunds to the assessee for the assessment years 1974-75 and 1975-76. The Tribunal held that the High Court's decision in favor of the assessee for the assessment year 1976-77, regarding agricultural lands as business assets, applied to the earlier years as well. Therefore, the rectification orders by the WTO to withdraw refunds were deemed unwarranted, and the refunds were to be granted to the assessee. Case-Laws Wealth-tax Fri, 31 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61366