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1. Search Case laws by Section / Act / Rule β now available beyond Income Tax. GST and Other Laws Available


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<h1>Co-sharer can claim exemption under Wealth-tax Act for share in immovable property.</h1> The High Court of Allahabad ruled in favor of the assessee, allowing a co-sharer to claim exemption under section 5(1)(iv) of the Wealth-tax Act for their ... Wealth Tax, Exemption, House The High Court of Allahabad ruled in favor of the assessee, stating that a co-sharer is entitled to claim exemption under section 5(1)(iv) of the Wealth-tax Act for their share in immovable property. This decision was based on previous judgments from different High Courts and was further supported by a Supreme Court ruling in CWT v. T. S. Sundaram [1999] 237 ITR 61.