https://www.taxtmi.com/caselaws?id=21942 The High Court of GAUHATI consolidated three wealth-tax references concerning the interpretation of sections 2(m), 4(1)(b), and 5(1)(iv) of the Wealth-tax Act, 1957. The court held that a partner's interest in immovable property should be included in computing net wealth and was entitled to exemption under section 5(1)(iv). The court upheld the decisions of the lower authorities, allowing the claims of the assessee and rejecting the Revenue's contentions. Exemption under section 5(1)(iv) for the property held by the assessee in partnership firms was deemed admissible. en-us Fri, 09 Aug 1991 00:00:00 +0530 Fri, 04 Dec 2009 13:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21942 The High Court of GAUHATI consolidated three wealth-tax references concerning the interpretation of sections 2(m), 4(1)(b), and 5(1)(iv) of the Wealth-tax Act, 1957. The court held that a partner's interest in immovable property should be included in computing net wealth and was entitled to exemption under section 5(1)(iv). The court upheld the decisions of the lower authorities, allowing the claims of the assessee and rejecting the Revenue's contentions. Exemption under section 5(1)(iv) for the property held by the assessee in partnership firms was deemed admissible. Case-Laws Wealth-tax Fri, 09 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21942