Broad meaning of "house" under wealth-tax law extends to a brick shed used as a godown for exemption.

The term "house" in section 5(1)(iv) of the Wealth-tax Act, 1957 was construed broadly and was not confined to a dwelling house. A permanent brick shed used as a godown was treated as a house because judicial authorities recognised that the expression can extend to a structure used for business or other non-residential purposes, and the Board's circular supported exemption without restriction as to user. On that basis, the assessee's claim for exemption from wealth-tax was accepted.

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Issues: Whether a brick shed used as a godown is a "house" within section 5(1)(iv) of the Wealth-tax Act, 1957, so as to qualify for exemption from wealth-tax.

Analysis: The expression "house" was construed in the light of judicial authorities recognising that it is not confined to a mere dwelling house and may, depending on context, extend to a permanent structure used for business or other purposes. The Board's circular also supported the view that exemption under section 5(1)(iv) was available to houses without restriction as to user.

Conclusion: The shed used as a godown is covered by the term "house" for purposes of section 5(1)(iv), and the assessee is entitled to the exemption claimed.

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