1991 (1) TMI 19 - HC - Wealth-tax

Summary

The High Court of Calcutta ruled in favor of the assessee in a Wealth-tax Act case for the assessment year 1978-79. The court held that the flat purchased by the assessee belonged to her, allowing exemption under section 5(1)(iv) of the Act. The Tribunal's decision was upheld, and the court referred to a previous case to support its judgment. The question posed was answered in the affirmative, and no costs were ordered. Judges: Shyamal Kumar Sen and Ajit Kumar Sengupta. [Case: 1991 (1) TMI 19 - CALCUTTA High Court]