Two building in the same compound constitute a "House" - Sec 7(4) of Wealth-tax Act 1957::

Last updated: 07 September 2007

Court :
HC

Brief :
Held by the Hon"ble court that two contiguous buildings in the same compound constituted a house belonging to the assessee exclusively used by him for residential purposes hence the assessee was entitled to exemption in respect of both the buildings.

Citation :
C.W.T Vs. S.D.Jadeja

Two building in the same compound constitute a "House" - Sec 7(4) of Wealth-tax Act 1957 C.W.T Vs. S.D.Jadeja 8/10/2005 (2006) 283 ITR 45 (Gujarat) Case Fact: Whether two contiguous buildings in the same compound used for residential purposes constitute a "house" within the meaning of section 7(4) and would be entitled to exemption? Decision: Held by the Hon"ble court that two contiguous buildings in the same compound constituted a house belonging to the assessee exclusively used by him for residential purposes hence the assessee was entitled to exemption in respect of both the buildings.