1994 (4) TMI 35

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....er section 27(1) of the Wealth-tax Act, 1957 ("the Act", for short), requesting this court to decide the following question of law : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in holding that the benefit of exemption under section 5(1)(iv) of the Wealth-tax Act, 1957, has to be granted to the assessee for the assessment year 1971-72 ?....

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....ver, held that the test of exclusiveness of the use of the house has to be determined with reference to the question, whether the assessee is user of the house as of right, and hence held that since the assessee was a co-owner and has a right to reside in the property, the benefit of exemption was available to the assessee and the appeal of the Department was dismissed. Thereafter, the Department ....

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.... to the exemption under section 5(1)(iv) of the said Act. This decision relates to this very property, though at the instance of a brother of the respondent. All the facts and circumstances of the case are identical and, hence, there is every justification for applying the ratio of this decision to the facts of this case. In view of the aforesaid decision, it is held that in view of the facts a....