https://www.taxtmi.com/caselaws?id=9520 The High Court held that a cinema building, like Sree Talkies, does not qualify as a "house" under section 5(1)(iv) of the Wealth-tax Act. Therefore, a partner in a partnership firm owning such a property is not entitled to exemption under the Act. The court's decision aligned with precedent, ruling in favor of the Revenue and against the assessee, with no costs awarded. en-us Wed, 24 Nov 2004 00:00:00 +0530 Tue, 23 Jun 2009 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9520 The High Court held that a cinema building, like Sree Talkies, does not qualify as a "house" under section 5(1)(iv) of the Wealth-tax Act. Therefore, a partner in a partnership firm owning such a property is not entitled to exemption under the Act. The court's decision aligned with precedent, ruling in favor of the Revenue and against the assessee, with no costs awarded. Case-Laws Wealth-tax Wed, 24 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9520