https://www.taxtmi.com/caselaws?id=11589 The court held that a cinema building cannot be considered a "house" for exemption under section 5(1)(iv) of the Wealth-tax Act. The term "house" was interpreted to refer to a place of dwelling or habitation, and a cinema hall does not meet this criteria. The court emphasized that while a residential building can be used for commercial purposes and still be considered a house, a cinema hall does not qualify as such. Therefore, the property must be a house in the first place to be eligible for exemption, which a cinema hall is not. The reference was answered in favor of the Department, denying the exemption to the assessee. en-us Tue, 23 Sep 2003 00:00:00 +0530 Sun, 31 Jan 2010 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11589 The court held that a cinema building cannot be considered a "house" for exemption under section 5(1)(iv) of the Wealth-tax Act. The term "house" was interpreted to refer to a place of dwelling or habitation, and a cinema hall does not meet this criteria. The court emphasized that while a residential building can be used for commercial purposes and still be considered a house, a cinema hall does not qualify as such. Therefore, the property must be a house in the first place to be eligible for exemption, which a cinema hall is not. The reference was answered in favor of the Department, denying the exemption to the assessee. Case-Laws Wealth-tax Tue, 23 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11589