https://www.taxtmi.com/caselaws?id=3012 For wealth-tax purposes, section 4(7) treats a tenant co-operative housing society flat as belonging to the assessee once membership exists and the flat has been allotted or leased under the housing scheme. Taxability is not postponed merely because transfer of shares has not yet been registered in the society's books under the Maharashtra Co-operative Societies Rules, 1961. On the stated facts, admission as a member, payment of consideration, society's no-objection and delivery of possession before the valuation date were sufficient to include the flat in net wealth for the relevant assessment year. en-us Tue, 22 Jan 2008 00:00:00 +0530 Mon, 31 Dec 2012 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3012 For wealth-tax purposes, section 4(7) treats a tenant co-operative housing society flat as belonging to the assessee once membership exists and the flat has been allotted or leased under the housing scheme. Taxability is not postponed merely because transfer of shares has not yet been registered in the society's books under the Maharashtra Co-operative Societies Rules, 1961. On the stated facts, admission as a member, payment of consideration, society's no-objection and delivery of possession before the valuation date were sufficient to include the flat in net wealth for the relevant assessment year. Case-Laws Wealth-tax Tue, 22 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3012