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TMI Blog1989 (2) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... erjee, has died leaving his son, Manoj Kumar Banerjee, as his legal heir and representative. The name of the son be recorded. The question that has been referred to us by the Tribunal under section 27(1) of the Wealth-tax Act, 1957 ("the Act"), is as under : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the assessee was entitled to deduct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uation date are held (i) by the spouse of such individual to whom such assets have been transferred by the individual, directly or indirectly, otherwise than for adequate consideration or in connection with an agreement to live apart, or" The Wealth-tax Officer allowed in each of those assessments deduction of Rs.1 lakh in respect of a house or a part of a house belonging to the assessee in term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve been withdrawn by the Commissioner. The Tribunal followed the decision of the Madras High Court in the case of S. Naganathan v. CWT [1975] 101 ITR 287, where it was held that the benefit of section 5(1)(iv) would be available also where the property is transferred to the wife by reason of section 4 (1) (a). The view taken by the Tribunal appears to be correct. The charge of tax under the Weal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [1979] 119 ITR 553 and also the Karnataka High Court in the case of CWT v. Eapen (K. M.) [1978] 114 ITR 415. The Madras High Court has also taken the same view in the case of S. Naganathan [1975] 101 ITR 287. In view of the aforesaid, the question referred to this court is answered in the affirmative and in favour of the assessee. There will be no order as to costs. BABOO LALL JAIN J. -I agr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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