https://www.taxtmi.com/caselaws?id=22489 The amended exemption for one house or part of a house under section 5(1)(iv) of the Wealth-tax Act, 1957 applied where the assessee owned only a single house property. The property had come to belong solely to the assessee after the co-owner transferred her share by registered gift deed, and the statutory proviso relating to valuation did not prevent the exemption on these facts. The assessee was therefore entitled to the house-property exemption in respect of her sole residential asset. en-us Mon, 17 Jun 1991 00:00:00 +0530 Thu, 10 Dec 2009 16:20:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22489 The amended exemption for one house or part of a house under section 5(1)(iv) of the Wealth-tax Act, 1957 applied where the assessee owned only a single house property. The property had come to belong solely to the assessee after the co-owner transferred her share by registered gift deed, and the statutory proviso relating to valuation did not prevent the exemption on these facts. The assessee was therefore entitled to the house-property exemption in respect of her sole residential asset. Case-Laws Wealth-tax Mon, 17 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22489