https://www.taxtmi.com/caselaws?id=13133 The High Court ruled in favor of the assessee, holding that the administrator was entitled to the benefit of valuation under section 7(4) of the Wealth-tax Act, 1957 for the assessment year 1977-78. The Court emphasized that the use of the property for residential purposes by the legal heirs entitled to a share in the estate was sufficient to fulfill the conditions of the provision, even if the administrator did not reside in the property. en-us Wed, 17 Oct 2001 00:00:00 +0530 Tue, 26 May 2009 16:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13133 The High Court ruled in favor of the assessee, holding that the administrator was entitled to the benefit of valuation under section 7(4) of the Wealth-tax Act, 1957 for the assessment year 1977-78. The Court emphasized that the use of the property for residential purposes by the legal heirs entitled to a share in the estate was sufficient to fulfill the conditions of the provision, even if the administrator did not reside in the property. Case-Laws Income Tax Wed, 17 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13133