Commissioner Of Income-Tax vs Mlm. Mahalingam Chettiar (Deceased By ... on 23 March, 1976
Reliance was placed on a number of decisions. It was thus urged that the value of agricultural land be excluded from the taxable wealth of the assessee for all the six assessment years involved. The submissions of the assessee found favour with the DCWT(A). Relying on the ratios of the decisions in the cases of CIT v, MLM, Mahalingam Chettiar [1977] 107 ITR 236 (Mad,); Mambhai Motihhai Patel v. CIT [1981] 131 ITR 120 (Guj.