https://www.taxtmi.com/caselaws?id=70145 The Appellate Tribunal ITAT MADRAS-C upheld the decision granting exemption to the Hindu Undivided Family (HUF) for the house property exclusively used for residential purposes. The tribunal interpreted the term "individual" to include groups of individuals, determining that the family's use of the property should be considered the assessee's use. Therefore, the HUF was deemed eligible for the exemption under section 5(1)(iv) of the Wealth Tax Act, dismissing the departmental appeal. en-us Mon, 15 Jun 1981 00:00:00 +0530 Thu, 14 Apr 2011 15:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70145 The Appellate Tribunal ITAT MADRAS-C upheld the decision granting exemption to the Hindu Undivided Family (HUF) for the house property exclusively used for residential purposes. The tribunal interpreted the term "individual" to include groups of individuals, determining that the family's use of the property should be considered the assessee's use. Therefore, the HUF was deemed eligible for the exemption under section 5(1)(iv) of the Wealth Tax Act, dismissing the departmental appeal. Case-Laws Wealth-tax Mon, 15 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70145