https://www.taxtmi.com/caselaws?id=66845 The Tribunal allowed the appeal, ruling in favor of the assessee regarding the claim of exemption under section 5(1)(iv) of the Wealth-tax Act, 1957 for a house. It held that based on the terms of the agreement and the automatic ownership transfer to the assessee, the house belonged to the assessee for exemption purposes. The amount paid by the assessee to the Housing Board was excluded from the assessee's wealth, affirming ownership rights and eligibility for the exemption. en-us Mon, 31 Dec 1984 00:00:00 +0530 Mon, 07 Mar 2011 17:01:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66845 The Tribunal allowed the appeal, ruling in favor of the assessee regarding the claim of exemption under section 5(1)(iv) of the Wealth-tax Act, 1957 for a house. It held that based on the terms of the agreement and the automatic ownership transfer to the assessee, the house belonged to the assessee for exemption purposes. The amount paid by the assessee to the Housing Board was excluded from the assessee's wealth, affirming ownership rights and eligibility for the exemption. Case-Laws Wealth-tax Mon, 31 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66845