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1. Inclusion of Agricultural lands for the purpose of wealth tax - Once the lands are classified as agricultural lands, in the revenue records of Government and used for...

2. A piece of vacated land cannot be excluded from taxable wealth simply because building has been constructed thereupon subsequently - AT

3. Wealth-tax - any property in the nature of commercial establishments or complexes is excluded from the definition of assets liable for wealth tax - AT

4. Gains arising on sale of Agricultural land – Assessee might not have paid agricultural income-tax but is paying land revenue and village records clearly showed the land...

5. Nature of land sold - Capital asset u/s 2(14) or agricultural land - If both the conditions are present then it would not be agricultural land and would be treated as...

6. Taxability to wealth tax - land is agricultural land in the revenue record and has been used for agricultural purposes thus proviso to Section 2(ea)(b) would be...

7. Nature of land sold - sale of agricultural land or not - it is nowhere necessary for an assessee to prove carrying out actual agricultural activity of the land

8. Once the learned CWT(A) held the land of the assessee to be exempt on one count, i.e., the land being classified as agricultural land in the records of the Govt. and...

9. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

10. Nature of land sold - capital asset u/s 2(14) or agricultural land - If the previous owner did not carry out agricultural activity on an agricultural land, however did...