" By the Finance Act, 1969 clause (e) of Section 2 of the Act was substituted by the following provision: "(e) "assets" includes property of every description, movable or immovable, but does not include (1) in relation to the assessment year commencing on the 1st day of April, 1969 or any earlier assessment year (i) agricultural land and growing crop, grass or standing trees on such land; (ii) any building owned or occupied by a cultivator of, or receiver of rent or revenue out of, agricultural land: Provided that the building is on or in the immediate 893 vicinity of the land is a building which the cultivator or the receiver of rent or revenue by reason of his connection with the land requires as a dwelling house or a store:house or an outhouse; (iii) animals; (iv) a right to any annuity in any case where the terms and conditions relating thereto preclude the commutation of any portion thereof into a lump sum grant; (v) any interest in property where the interest is available to an assessee for a period not exceeding six years from the date the interest vests in the assessee; (2) in relation to the assessment year commencing on the 1st day of April, 1970 or any subsequent assessment year (i) animals; (ii) a right to any annuity in any case where the terms and conditions relating thereto preclude the commutation of any portion thereof into a lump sum grant; (iii) any interest in property where the interest is avail able to an assessee for a period not exceeding six years from the date the interest vests in the assessee.