https://www.taxtmi.com/caselaws?id=56325 Section 7(4) of the Wealth-tax Act was construed pragmatically for a house property claimed as a residential self-occupied asset. Physical occupation by the assessee was not treated as essential where the house was maintained for his residence, remained ready for residential use, and was neither let out nor used to generate income. On that basis, the statutory condition of exclusive residential use throughout the relevant 12-month period was held satisfied, and the valuation adopted by the appellate authority was upheld. en-us Sat, 18 Jun 1988 00:00:00 +0530 Fri, 03 Dec 2010 10:53:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56325 Section 7(4) of the Wealth-tax Act was construed pragmatically for a house property claimed as a residential self-occupied asset. Physical occupation by the assessee was not treated as essential where the house was maintained for his residence, remained ready for residential use, and was neither let out nor used to generate income. On that basis, the statutory condition of exclusive residential use throughout the relevant 12-month period was held satisfied, and the valuation adopted by the appellate authority was upheld. Case-Laws Wealth-tax Sat, 18 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56325