Hegde, J.—The petitioner, who is assessed to wealth-tax during the assessment years 1957-58 and 1958-59, has these petitions challenging the validity of the assessments made on him. Two contentions were urged in support of these petitions. They are : (i) Parliament had no competence to enact any law imposing tax on the capital value of the land; and (ii) on a proper appreciation of the material on record, the "land" that is in dispute in these petitions is an "agricultural land"

2. Sri E. S. Venkataramiah, the learned counsel for the Assesses, contended that Parliament could not have enacted any law levying tax on the capital value of "land", be it agricultural or otherwise. According to him, "land" is included in the entry 49 of List II of the Seventh Schedule of the Constitution and, therefore, Parliament could not have enacted any law imposing tax on the capital value of "land". We do not think that there is any force in this contention. The Wealth-tax Act was enacted evidently on the basis of the power conferred on Parliament under entry 86 of List I of the Seventh Schedule, which entry reads :

"Taxes on the capital value of the assets, exclusive of agricultural land, of