1990 (2) TMI 125

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....ntions and are disposed of by this consolidated order. 2. The issue raised in all these appeals concerns the denial by the CWT(A) of relief under section 7(4) of the W.T. Act, 1957. The appellant owned a residential house at Courtallam. Its value was included in the net wealth for all the years. In the appeal before CWT(A), it was pleaded that the exemption under section 7(4) should have been a....

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....f the property for the use of others. Section 7(4) referred to inclusive user by the assessee and the CWT(A) has placed an unduly narrow interpretation on the words " exclusively used by him " in the section. Reliance was placed on the ruling of the Tribunal in the case of ITO v. K.L. Ramachandra [1984] 9 ITD 643 (Bang.) wherein the benefit under section 23(2) of the I.T. Act, 1961 was extended to....

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....ial house. The benefit cannot be denied merely because the appellant was not occupying the house for all the 365 days of the year. 6. The second objection of the CWT(A) to the allowance of relief under section 7(4) is that the appellant is a Hindu Undivided Family and not an individual. While considering the corresponding provision of section 54 of the I.T. Act, the Madhya Pradesh High Court in....

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....T. in F. No. 328/173/ 85-WT, dt. 30-5-86, addressed to the Commissioner of Income-tax, Coimbatore, may be reproduced : ---- " Sub :---Provisions relating to section 7(4) of the W.T. Act, 1957 - -Interpretation reg.... I am directed to refer to your letter C.No. 1480/85-86/CBE dated 5th December 1985 on the above subject and to inform you that the Ministry of Law has opined that HUFs are a....