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.
CA.Saibaburao Nanduri
Published in Community & General
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