https://www.taxtmi.com/caselaws?id=19922 For wealth-tax purposes, the Madras HC examined whether a co-owned property used in partnership business could qualify as business premises under the relevant schedule entry. It reasoned that the statutory test turns on the assessee's own user connection with the premises and, on the facts, treated the partnership's occupation as insufficient for the assessee's 1/3rd share in one issue. It also applied the earlier Income-tax Act construction of business premises to the factual setting and accepted the assessee's characterisation challenge on the other issue, leaving the Revenue's objection unsuccessful overall. en-us Thu, 20 Jan 1994 00:00:00 +0530 Tue, 10 Nov 2009 16:29:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19922 For wealth-tax purposes, the Madras HC examined whether a co-owned property used in partnership business could qualify as business premises under the relevant schedule entry. It reasoned that the statutory test turns on the assessee's own user connection with the premises and, on the facts, treated the partnership's occupation as insufficient for the assessee's 1/3rd share in one issue. It also applied the earlier Income-tax Act construction of business premises to the factual setting and accepted the assessee's characterisation challenge on the other issue, leaving the Revenue's objection unsuccessful overall. Case-Laws Wealth-tax Thu, 20 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19922