https://www.taxtmi.com/caselaws?id=14727 A co-sharer holding a fractional interest in jointly owned immovable property is entitled to exemption for a house property or part of a house under section 5(1)(iv) of the Wealth-tax Act, 1957. The text notes that the assessee's 1/5th share was claimed as exempt and that several High Courts had accepted this position. The issue was treated as settled by the Supreme Court in favour of co-owners and co-sharers, confirming that the exemption extends to such fractional ownership. On that basis, the assessee's claim was allowed and the question was answered in the affirmative against the Commissioner. en-us Thu, 14 Oct 1999 00:00:00 +0530 Sat, 18 Jul 2009 12:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14727 A co-sharer holding a fractional interest in jointly owned immovable property is entitled to exemption for a house property or part of a house under section 5(1)(iv) of the Wealth-tax Act, 1957. The text notes that the assessee's 1/5th share was claimed as exempt and that several High Courts had accepted this position. The issue was treated as settled by the Supreme Court in favour of co-owners and co-sharers, confirming that the exemption extends to such fractional ownership. On that basis, the assessee's claim was allowed and the question was answered in the affirmative against the Commissioner. Case-Laws Wealth-tax Thu, 14 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14727