https://www.taxtmi.com/caselaws?id=69519 The Tribunal upheld the AAC's decision, dismissing the assessee's appeals regarding entitlement to exemption under section 5(1)(iv) of the Wealth-tax Act. The Tribunal emphasized that for a property to qualify as a 'house' for exemption purposes, it must be fit for human habitation. The godown in question, used for storing foodgrains, did not meet the habitability criteria and thus was not eligible for exemption under the Act. The decision was based on the interpretation that the property did not fulfill the essential requirement of being suitable for human habitation. en-us Thu, 28 Feb 1985 00:00:00 +0530 Thu, 07 Apr 2011 14:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69519 The Tribunal upheld the AAC's decision, dismissing the assessee's appeals regarding entitlement to exemption under section 5(1)(iv) of the Wealth-tax Act. The Tribunal emphasized that for a property to qualify as a 'house' for exemption purposes, it must be fit for human habitation. The godown in question, used for storing foodgrains, did not meet the habitability criteria and thus was not eligible for exemption under the Act. The decision was based on the interpretation that the property did not fulfill the essential requirement of being suitable for human habitation. Case-Laws Wealth-tax Thu, 28 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69519