Annual value of land and building.

The value of any machinery contained in, or situated a land or building shall not be taken into consideration determining the annual value. Explanation I. -In the case of a building with appurtenant land, the a e3 ==-= land under the plinth area of the building shall be ex -=== the total area of the land, the balance being treater 3: - land which shall be assessed as such. Explanation II.-The covered space of any building shall mean the total floor area of the building in all the storey. Explanation III.-For the purposes of this section, "machinery" shall include lift, air-conditioning equipment, and equipment for providing earthquake proofing.