https://www.taxtmi.com/caselaws?id=11011 The court ruled in favor of the assessee, affirming the retrospective operation of section 7(4) of the Wealth-tax Act, 1957 for co-owners using a property exclusively for residential purposes during the relevant assessment years 1974-75 and 1975-76. The court held that the assessee's half share in the jointly owned house was exclusively used for residential purposes, allowing her to claim the benefit under section 7(4). Consequently, the reference application against the Revenue was disposed of in the assessee's favor. en-us Fri, 21 Nov 2003 00:00:00 +0530 Wed, 29 Jul 2009 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11011 The court ruled in favor of the assessee, affirming the retrospective operation of section 7(4) of the Wealth-tax Act, 1957 for co-owners using a property exclusively for residential purposes during the relevant assessment years 1974-75 and 1975-76. The court held that the assessee's half share in the jointly owned house was exclusively used for residential purposes, allowing her to claim the benefit under section 7(4). Consequently, the reference application against the Revenue was disposed of in the assessee's favor. Case-Laws Wealth-tax Fri, 21 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11011