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2012 (5) TMI 205 - ITAT DELHIAddition to the net wealth on account of Urban Land - agriculture land under wealth tax act 1957 - held that:- There is no dispute about the fact that the impugned lands were within the Municipal limits of Shamli. U/s 2(ea) of the Act, Urban land is liable to wealth tax. - from 1.4.1993, any urban land whether it is agriculture land or otherwise is liable to wealth tax if it falls under the definition of urban land. - The construction of building is "not permissible under any law" does not mean that agricultural land will falls under such category. - Decided against the assessee.
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