https://www.taxtmi.com/caselaws?id=60384 A beneficiary in a private trust owning house properties was treated as entitled to exemption under the Wealth-tax Act because the claim had been accepted in earlier years and was consistent with the connected High Court proceedings. Where the assessee's interest in each house was indeterminate and not separately ascertainable, the exemption was to be applied to the aggregate value of all four houses rather than to one selected property. The valuation method on 18 per cent of the aggregate value was upheld, and the allowance up to Rs. 1,00,000 remained available. en-us Sat, 06 Jun 1981 00:00:00 +0530 Wed, 05 Jan 2011 11:11:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60384 A beneficiary in a private trust owning house properties was treated as entitled to exemption under the Wealth-tax Act because the claim had been accepted in earlier years and was consistent with the connected High Court proceedings. Where the assessee's interest in each house was indeterminate and not separately ascertainable, the exemption was to be applied to the aggregate value of all four houses rather than to one selected property. The valuation method on 18 per cent of the aggregate value was upheld, and the allowance up to Rs. 1,00,000 remained available. Case-Laws Wealth-tax Sat, 06 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60384