9911796707
TMI Blog1990 (2) TMI 125X X X X Extracts X X X X X X X X Extracts X X X X ..... in all these appeals concerns the denial by the CWT(A) of relief under section 7(4) of the W.T. Act, 1957. The appellant owned a residential house at Courtallam. Its value was included in the net wealth for all the years. In the appeal before CWT(A), it was pleaded that the exemption under section 7(4) should have been allowed in respect of the property. This was the only property owned by the app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the assessee and the CWT(A) has placed an unduly narrow interpretation on the words " exclusively used by him " in the section. Reliance was placed on the ruling of the Tribunal in the case of ITO v. K.L. Ramachandra [1984] 9 ITD 643 (Bang.) wherein the benefit under section 23(2) of the I.T. Act, 1961 was extended to a Hindu Undivided Family. 4. On behalf of the Department Shri S.K. Jha sough ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pying the house for all the 365 days of the year. 6. The second objection of the CWT(A) to the allowance of relief under section 7(4) is that the appellant is a Hindu Undivided Family and not an individual. While considering the corresponding provision of section 54 of the I.T. Act, the Madhya Pradesh High Court in Shrigopal Rameshwardas v. Addl. CIT [1979] 119 ITR 980 held that the benefit of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax, Coimbatore, may be reproduced : ---- " Sub :---Provisions relating to section 7(4) of the W.T. Act, 1957 - -Interpretation reg.... I am directed to refer to your letter C.No. 1480/85-86/CBE dated 5th December 1985 on the above subject and to inform you that the Ministry of Law has opined that HUFs are also entitled to the benefit of section 7(4) of the Wealth-tax Act, 1957. A copy of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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