https://www.taxtmi.com/caselaws?id=12543 The court ruled in favor of the assessee, rejecting the arbitrary valuation of the property and upholding the right to full exemption under the proviso to section 7(4) of the Wealth-tax Act, 1957. The court emphasized that Assessing Officers cannot impose subjective limits on open space around a house or determine the optimal size of a property for wealth tax assessment, safeguarding taxpayers' entitlement to statutory exemptions. en-us Wed, 21 Aug 2002 00:00:00 +0530 Tue, 19 May 2009 18:54:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12543 The court ruled in favor of the assessee, rejecting the arbitrary valuation of the property and upholding the right to full exemption under the proviso to section 7(4) of the Wealth-tax Act, 1957. The court emphasized that Assessing Officers cannot impose subjective limits on open space around a house or determine the optimal size of a property for wealth tax assessment, safeguarding taxpayers' entitlement to statutory exemptions. Case-Laws Income Tax Wed, 21 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12543