https://www.taxtmi.com/caselaws?id=38905 The court affirmed the inclusion of the house's value in the assessee's net wealth under section 4(1)(a)(i) of the Wealth-tax Act, 1957, emphasizing the asset's value on the valuation date. It granted exemption under section 5(1)(iv) up to Rs. 1,00,000, not the full value of Rs. 1,60,000. The judgment underscored the significance of valuing assets on the valuation date for wealth tax assessment and clarified the limited exemption amount permissible under the statute. en-us Thu, 27 Jan 1977 00:00:00 +0530 Sat, 10 Apr 2010 12:47:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38905 The court affirmed the inclusion of the house's value in the assessee's net wealth under section 4(1)(a)(i) of the Wealth-tax Act, 1957, emphasizing the asset's value on the valuation date. It granted exemption under section 5(1)(iv) up to Rs. 1,00,000, not the full value of Rs. 1,60,000. The judgment underscored the significance of valuing assets on the valuation date for wealth tax assessment and clarified the limited exemption amount permissible under the statute. Case-Laws Wealth-tax Thu, 27 Jan 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38905