2004 (11) TMI 18

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... is a partner? – held that exemption under section 5(1)(iv) of the Act is not available to a partner or to an assessee in respect of cinema building. - - - - - Dated:- 24-11-2004 - Judge(s) : R. K. AGRAWAL., P. KRISHNA. JUDGMENT The Wealth-tax Appellate Tribunal, Delhi, has referred the following question of law under section 27(1) of the Wealth-tax Act, 1957 (hereinafter referred to as th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ding counsel for the Revenue. The question is as to whether a cinema building can be said to be a house or not, has been decided by this court in the case of CIT v. Jai Kishan Gupta [2003] 264 ITR 482 and this court has held that the cinema building cannot be treated as a house. It is not a dwelling place and people do not reside there. Exemption under section 5(1)(iv) of the Act is available to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X