https://www.taxtmi.com/caselaws?id=76962 The court held that the assessee was not entitled to exemption under sections 2(ea)(i)(3) and 2(ea)(ii) of the Wealth-tax Act, 1957 for cashew factory buildings leased out to a firm as the exemption is for buildings used by the assessee for their own business or profession. The court allowed the appeal, reversing the Tribunal's decision and restoring the assessment. Additionally, the court directed the Assessing Officer to review the exemption claim under section 5(1)(vi) of the Act for one house, emphasizing the importance of considering all relevant exemption provisions and eligibility criteria. en-us Thu, 26 Feb 2009 00:00:00 +0530 Mon, 02 Aug 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76962 The court held that the assessee was not entitled to exemption under sections 2(ea)(i)(3) and 2(ea)(ii) of the Wealth-tax Act, 1957 for cashew factory buildings leased out to a firm as the exemption is for buildings used by the assessee for their own business or profession. The court allowed the appeal, reversing the Tribunal's decision and restoring the assessment. Additionally, the court directed the Assessing Officer to review the exemption claim under section 5(1)(vi) of the Act for one house, emphasizing the importance of considering all relevant exemption provisions and eligibility criteria. Case-Laws Wealth-tax Thu, 26 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76962