https://www.taxtmi.com/caselaws?id=56311 Section 7(4) of the Wealth-tax Act, 1957 is explained as applying pragmatically to a house property kept for the assessee's residential use, even if the assessee was not physically occupying it during the relevant period. Physical occupation is not treated as a necessary condition where the house was maintained for residence, was not let out, and was not used to earn income or profit. On that basis, the lower valuation under section 7(4) is available when the statutory requirement of exclusive residential use is satisfied in substance. en-us Wed, 18 Jun 1986 00:00:00 +0530 Fri, 03 Dec 2010 10:01:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56311 Section 7(4) of the Wealth-tax Act, 1957 is explained as applying pragmatically to a house property kept for the assessee's residential use, even if the assessee was not physically occupying it during the relevant period. Physical occupation is not treated as a necessary condition where the house was maintained for residence, was not let out, and was not used to earn income or profit. On that basis, the lower valuation under section 7(4) is available when the statutory requirement of exclusive residential use is satisfied in substance. Case-Laws Income Tax Wed, 18 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56311