https://www.taxtmi.com/caselaws?id=70489 The Tribunal, after thorough analysis, concluded that the property in question belonged to the assessee due to his vested remainder and exclusive residential use, meeting the criteria of section 7(4) of the Wealth-tax Act. The Tribunal aligned with the interpretation that the mother had a right of residence rather than a life interest, emphasizing the unique relationship between the mother and son. Consequently, the appeal was allowed, and the property was valued at Rs. 11,50,000 for assessment year 1981-82. en-us Wed, 28 Oct 1987 00:00:00 +0530 Sat, 16 Apr 2011 14:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70489 The Tribunal, after thorough analysis, concluded that the property in question belonged to the assessee due to his vested remainder and exclusive residential use, meeting the criteria of section 7(4) of the Wealth-tax Act. The Tribunal aligned with the interpretation that the mother had a right of residence rather than a life interest, emphasizing the unique relationship between the mother and son. Consequently, the appeal was allowed, and the property was valued at Rs. 11,50,000 for assessment year 1981-82. Case-Laws Wealth-tax Wed, 28 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70489