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2017 (11) TMI 227 - AT - Wealth-taxChargeability of wealth-tax on certain parcels of land - whether parcels of land being agricultural land are excluded from definition of ‘Urban Land’ given under s.2(ea) of the Wealth Tax Act, 1957? - Held that:- We notice from the purchase-deed dated 09/09/2005 with reference to agricultural land at Suratas referred to at the course of hearing on behalf of the assessee that aforesaid agricultural land was held as agricultural land and cultivated for agricultural purposes. Likewise, reference was made to the purchasedeed dated 23/10/2008 for acquisition of the land at Vadaj in the course of hearing. From specific assertions in the sale-deed, we note that the aforesaid land was claimed to be acquired as agricultural land. However, it is not clear whether the aforesaid land was actually used for agricultural purposes as contemplated in the definition of ‘Urban Land’. The assessee shall be entitled to relief subject to production of evidence towards agricultural use of the aforesaid land at Vadaj to the satisfaction of the AO. For this limited purpose, the matter is remanded back to the file of AO for necessary verification.
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