1995 (4) TMI 26

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....circumstances of the case, the Appellate Tribunal was justified in holding that the deduction under section 5(1)(iva) of the Wealth-tax Act, 1957, is to be allowed in full in the hands of the assessee ? (2) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was ustified in holding that the deduction under section 5(1)(iva) of the Wealth-tax Act, 1957, is to be allo....

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....er section 5(1)(iv), when their individual assessments are taken up to the extent of their respective shares in the net wealth of the partnership firm ; (4) The mere fact that a partner cannot claim to be entitled to any portion of the property owned by a firm as exclusively belonging to him will not completely disentitle him from seeking the benefit of exemption under section 5(1)(iv) of the Act....