Wealth tax on agricultural land

R.K.SONCHHATRA (proprietor) (27 Points)

09 June 2016  
Wealth tax not leviable on urban land which is classified as agricultural land in govt recods and used for agricultural purposes.The words"and used for agricultural purposes"does it connotes the agricultural activities must have been continued till the valuation date or is it sufficient the purpose of use in revenue records should not have changed to get the exemption Pl.clarify n quote case laws in favour if any.