https://www.taxtmi.com/caselaws?id=16415 A partner's share in land and building owned by a partnership firm was treated as an identifiable interest in firm assets for wealth-tax valuation. The firm's property was regarded in law as property in which the partners have an interest, and rule 2 of the Wealth-tax Rules supported computation of that interest. On that basis, the partner's share in the firm-owned land and building qualified as an interest in property eligible for exemption under section 5(1)(iv) of the Wealth-tax Act, 1957. en-us Thu, 06 Nov 1997 00:00:00 +0530 Mon, 07 Sep 2009 16:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16415 A partner's share in land and building owned by a partnership firm was treated as an identifiable interest in firm assets for wealth-tax valuation. The firm's property was regarded in law as property in which the partners have an interest, and rule 2 of the Wealth-tax Rules supported computation of that interest. On that basis, the partner's share in the firm-owned land and building qualified as an interest in property eligible for exemption under section 5(1)(iv) of the Wealth-tax Act, 1957. Case-Laws Wealth-tax Thu, 06 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16415