https://www.taxtmi.com/caselaws?id=404132 Separately purchased plots held by co-purchasers could not be clubbed to deny exemption under section 5(vi) of the Wealth Tax Act where no sanctioned amalgamation or town-planning approval existed. The assessee's share in the plots did not exceed the statutory 500 sq. mtrs. threshold, and the provision contained no deeming fiction authorising aggregation of distinct holdings to cross that limit. Applying strict construction of taxing provisions, any doubt had to be resolved in favour of the taxpayer. The assessee was therefore entitled to exemption and relief under section 5(vi). en-us Tue, 02 Feb 2021 00:00:00 +0530 Tue, 16 Feb 2021 11:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404132 Separately purchased plots held by co-purchasers could not be clubbed to deny exemption under section 5(vi) of the Wealth Tax Act where no sanctioned amalgamation or town-planning approval existed. The assessee's share in the plots did not exceed the statutory 500 sq. mtrs. threshold, and the provision contained no deeming fiction authorising aggregation of distinct holdings to cross that limit. Applying strict construction of taxing provisions, any doubt had to be resolved in favour of the taxpayer. The assessee was therefore entitled to exemption and relief under section 5(vi). Case-Laws Wealth-tax Tue, 02 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404132