https://www.taxtmi.com/caselaws?id=65761 A partner's interest in immovable property owned by a firm was treated as eligible for exemption under section 5(1)(iv) of the Wealth-tax Act, 1957. The lower authorities had denied relief because the property stood in the firm's name rather than the individual partner's name, but the Tribunal followed its earlier decision on similar facts and stressed judicial propriety and discipline. On that basis, it adopted the same view as in comparable cases and accepted the exemption claim in respect of the partner's interest in the firm-owned property. en-us Fri, 21 Mar 1980 00:00:00 +0530 Fri, 18 Feb 2011 16:15:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65761 A partner's interest in immovable property owned by a firm was treated as eligible for exemption under section 5(1)(iv) of the Wealth-tax Act, 1957. The lower authorities had denied relief because the property stood in the firm's name rather than the individual partner's name, but the Tribunal followed its earlier decision on similar facts and stressed judicial propriety and discipline. On that basis, it adopted the same view as in comparable cases and accepted the exemption claim in respect of the partner's interest in the firm-owned property. Case-Laws Wealth-tax Fri, 21 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65761