1993 (2) TMI 57

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....OORNAN J.-The Revenue is the petitioner herein. The matter arises under the Wealth-tax Act, 1957. The respondent is an assessee to wealth-tax. We are concerned with the assessment year 1979-80. The assessee was a partner in a firm, Messrs. M. M. Corporation. The firm owns a house at Bangalore. While valuing the interest of the assessee in the firm, the claim of the assessee for exemption under sec....

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.... assessee would be entitled to exemption under section 5(1)(iv) of the Wealth-tax Act in respect of his share in the building owned by the firm ?" The Appellate Tribunal dismissed the application. It is thereafter that the Revenue has filed this petition under section 27(3) of the Wealth-tax Act, praying that this court may be pleased to direct the Appellate Tribunal to refer the question of la....