Wasiuddin, J.

1. This is a reference under Sec.27(3) (b) of the Wealth Tax of 1957 (Act 27 of 1957).

2. The relevant facts which have given rise to this present reference may be briefly stated as follows: The assessee was assessed under the Wealth Tax Act for the year 1962-63 for which the relevant date of valuati9n is 31-3-1962. The assessee filed a return disclosing his net wealth of Rs. 1,07,699. The, Wealth Tax Officer determined the total wealth at Es. 5,91,999. He included in this assessment a sum of Rs. 1,50,000 (One lac fifty thousand) representing the value of a plot of land owned by the assessee bearing survey plot No. 794 and situated at Bhat-tacharjee Road, Patna. The assessee contended that this was agricultural land and, therefore, was not liable to assessment under the Wealth Tax Act. The Wealth Tax Officer overruled this objection and as stated above included the value of this land also. The assessee then preferred an appeal before the Appellate Assistant Commissioner for the Wealth Tax and he dismissed the appeal and confirmed the order of the Wealth Tax Officer. The assessee, therefore, preferred an appeal before the Appellate Tribunal, and there also it w