1982 (3) TMI 101

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....e" is "tropical palm-tree". The coconut garden is an orchard since coconut tree is a fruit bearing tree. An "orchard" is defined is an enclosure with fruit trees. The WTO found that trees in an orchard or plantation are specifically excluded in the new provisions of section 5(1)(viiib) of the Wealth-tax Act, 1957 ("the Act"), which has come into force with effect from 1-4-1976. He, therefore, negatived the contention of the assessee and brought to tax in each year in question the value of the coconut garden at Rs. 60,125. 3. The assessee appealed. The appeals came to be disposed of ex parte. The AAC found that there was nothing wrong in the procedure adopted by the WTO. However, he found that the exemption under section 5(1)(iva) has not....

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....hen, and section 5(1)(viiia), which was introduced from 1-4-1970, were in these terms : "(1) Subject to the provisions of sub-section (1A), wealth-tax shall not be payable by an assessee in respect of the following assets, and such assets shall not be included in the net wealth of the assessee (iva) agricultural land belonging to the assessee; (viiia) growing crops (including fruits on trees) on agricultural land and grass on such land ;" Thereafter from 1-4-1976 clause (viiib) was introduced which is in these terms : "(viiib) trees standing on agricultural land, not being trees in an orchard or a plantation." 7. From the above it would appear that originally agricultural land and growing crops, grass, or standing trees on....