No exemption for commercial premises u/s.5(1)(iv) of Wealth Tax Act 1957.

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..... e buildings are let out for commercial purposes. Inspite of these instructions, the receipt audit have been raising objections to the effect that exemption u/s.5(1)(iv) of the W.T.Act is applicable only to residential property let out or self occupied and that no exemption is available for commercial premises. The matter has been re-examined by the board and it has been decided that Instruction No .....

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