https://www.taxtmi.com/caselaws?id=60799 The Appellate Tribunal ITAT Chandigarh held that the Hindu Undivided Family (HUF) assessee was not entitled to the benefit of section 7(4) of the Wealth-tax Act, 1957, as the residential property in Ludhiana did not meet the conditions of exclusive residential use. The Tribunal upheld the valuations by the Wealth Tax Officer (WTO) for the assessment years 1977-78 to 1979-80, overturning the Appellate Commissioner's orders. Consequently, the revenue's appeals were allowed, and the AAC's decisions were set aside. en-us Tue, 07 Sep 1982 00:00:00 +0530 Sat, 08 Jan 2011 11:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60799 The Appellate Tribunal ITAT Chandigarh held that the Hindu Undivided Family (HUF) assessee was not entitled to the benefit of section 7(4) of the Wealth-tax Act, 1957, as the residential property in Ludhiana did not meet the conditions of exclusive residential use. The Tribunal upheld the valuations by the Wealth Tax Officer (WTO) for the assessment years 1977-78 to 1979-80, overturning the Appellate Commissioner's orders. Consequently, the revenue's appeals were allowed, and the AAC's decisions were set aside. Case-Laws Wealth-tax Tue, 07 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60799