1998 (7) TMI 9

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er section 5(1)(iv) of the Wealth-tax Act, 1957, cannot be granted in respect of the share of the partner in a building owned by the firm. The building in this case being a hotel and the assessment years in this case being 1983-84 to 1985-86. The subsidiary contention is that the building in respect of which the exemption can be granted should be a residential building and not a commercial buildin....