https://www.taxtmi.com/caselaws?id=456803 The Tribunal held that partners in a partnership firm are entitled to an exemption under section 5(1)(iv) of the Wealth Tax Act, 1957, for their shares in the firm's property. The court affirmed this decision, emphasizing that the property of the firm is essentially the property of its partners, thus allowing the exemption. en-us Mon, 16 Mar 1998 00:00:00 +0530 Fri, 16 Aug 2024 15:41:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456803 The Tribunal held that partners in a partnership firm are entitled to an exemption under section 5(1)(iv) of the Wealth Tax Act, 1957, for their shares in the firm's property. The court affirmed this decision, emphasizing that the property of the firm is essentially the property of its partners, thus allowing the exemption. Case-Laws Income Tax Mon, 16 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456803