https://www.taxtmi.com/caselaws?id=70840 Beneficial ownership and actual enjoyment of a house property were treated as sufficient to regard it as belonging to the assessee for wealth-tax exemption under section 5(1)(iv), and the valuation based on a combined cost-and-rental approach was accepted as reasonable. Where the Wealth-tax Officer had already rectified jewellery valuation under section 35, that matter could not ordinarily be treated as an erroneous and prejudicial order for revision under section 25(2). The income-tax refund arising from advance-tax payments was also held not includible in net wealth. On these issues, revisional interference was found unsustainable. en-us Wed, 04 Oct 1978 00:00:00 +0530 Tue, 19 Apr 2011 15:54:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70840 Beneficial ownership and actual enjoyment of a house property were treated as sufficient to regard it as belonging to the assessee for wealth-tax exemption under section 5(1)(iv), and the valuation based on a combined cost-and-rental approach was accepted as reasonable. Where the Wealth-tax Officer had already rectified jewellery valuation under section 35, that matter could not ordinarily be treated as an erroneous and prejudicial order for revision under section 25(2). The income-tax refund arising from advance-tax payments was also held not includible in net wealth. On these issues, revisional interference was found unsustainable. Case-Laws Income Tax Wed, 04 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70840