1986 (4) TMI 144 - AT - Wealth-tax

Summary

The appeal involved two disputes. Firstly, the assessee claimed exemption for a shop under section 5(1)(iv) of the Wealth-tax Act, which was initially denied but later allowed by the ITAT Jaipur. Secondly, the valuation of jewellery and utensils was reduced by 10% from the estimate made by the ITO. The appeal was partly allowed.