1986 (4) TMI 144
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....) of the Wealth-tax Act. The assessee is the owner of the shop and claimed exemption for it under section 5(1)(iv). This exemption has been denied to her on the ground that the exemption applies only to a house. The AAC referred to certain judicial decisions and has given an opinion that the term house had not been defined in the Wealth-tax Act and it should, therefore, be undersood in the same se....
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....elling unit or units was begun on or after 1st April, 1976 is exempt for five years from the date of its completion. This means that this exemption is available to the assessee in addition to the main exemption under clause (iv). When the legislature has used the words house, building, dwelling unit meant for residence in the same section in different clauses, it implies that each word had its own....