https://www.taxtmi.com/caselaws?id=19543 A co-owned house property held in an undivided state did not satisfy the requirement of exclusive residential use under section 5(1)(iv) of the Wealth-tax Act, 1957. The Madras High Court applied its earlier ruling on the same property and held that joint ownership by family members meant the assessee could not claim the exemption for a house said to be exclusively used for residential purposes. The Tribunal was therefore wrong in allowing the benefit, and the exemption was denied. en-us Fri, 29 Apr 1994 00:00:00 +0530 Fri, 06 Nov 2009 18:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19543 A co-owned house property held in an undivided state did not satisfy the requirement of exclusive residential use under section 5(1)(iv) of the Wealth-tax Act, 1957. The Madras High Court applied its earlier ruling on the same property and held that joint ownership by family members meant the assessee could not claim the exemption for a house said to be exclusively used for residential purposes. The Tribunal was therefore wrong in allowing the benefit, and the exemption was denied. Case-Laws Wealth-tax Fri, 29 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19543