https://www.taxtmi.com/caselaws?id=38134 The High Court upheld the Tribunal's decision to grant exemption under section 5(1)(iv) of the Wealth-tax Act for a residential property gifted to the spouse. The court emphasized that even if the house is included in the assessee's net wealth, exemption should be allowed as if the property belongs to the assessee. The court ruled in favor of the assessee, awarding costs, including advocate's fee. en-us Mon, 12 Jun 1978 00:00:00 +0530 Sat, 03 Apr 2010 13:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38134 The High Court upheld the Tribunal's decision to grant exemption under section 5(1)(iv) of the Wealth-tax Act for a residential property gifted to the spouse. The court emphasized that even if the house is included in the assessee's net wealth, exemption should be allowed as if the property belongs to the assessee. The court ruled in favor of the assessee, awarding costs, including advocate's fee. Case-Laws Wealth-tax Mon, 12 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38134