https://www.taxtmi.com/caselaws?id=65191 The Tribunal denied exemption under s. 5(1)(iv) of the Wealth Tax Act for a house property as the assessee did not fully pay for the property and lacked immediate transfer of ownership. However, exemption under s. 5(1)(xxvi) was allowed for Rs. 35,000 deposited in the bank account from the sale proceeds of a house in Calcutta, reducing the bank balance in the assessee's net wealth. en-us Mon, 22 Aug 1988 00:00:00 +0530 Mon, 14 Feb 2011 11:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65191 The Tribunal denied exemption under s. 5(1)(iv) of the Wealth Tax Act for a house property as the assessee did not fully pay for the property and lacked immediate transfer of ownership. However, exemption under s. 5(1)(xxvi) was allowed for Rs. 35,000 deposited in the bank account from the sale proceeds of a house in Calcutta, reducing the bank balance in the assessee's net wealth. Case-Laws Wealth-tax Mon, 22 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65191