https://www.taxtmi.com/caselaws?id=27167 The court ruled in favor of the assessee, stating that the Appellate Tribunal erred in denying the deduction of Rs. 44,000 for the value of the assessee's interest in the house property owned by the partnership firm. The judgment emphasized the individual ownership of partnership property by partners and their entitlement to exemptions under the Wealth-tax Act based on their respective shares. en-us Wed, 31 Jul 1985 00:00:00 +0530 Thu, 11 Feb 2010 12:27:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27167 The court ruled in favor of the assessee, stating that the Appellate Tribunal erred in denying the deduction of Rs. 44,000 for the value of the assessee's interest in the house property owned by the partnership firm. The judgment emphasized the individual ownership of partnership property by partners and their entitlement to exemptions under the Wealth-tax Act based on their respective shares. Case-Laws Wealth-tax Wed, 31 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27167