https://www.taxtmi.com/caselaws?id=62675 Item (1A) of paragraph A of the Wealth-tax Act Schedule was held inapplicable to a Hindu undivided family where the relevant "member" condition was not met. The clause was construed to require an individual member of the larger HUF to have net wealth assessable above the prescribed limit for the assessment year; a smaller HUF was not treated as such a member. Because no member was assessable in an individual capacity with wealth above the threshold, the assessee did not fall within the express statutory terms and the normal wealth-tax rate applied. en-us Thu, 11 May 1978 00:00:00 +0530 Fri, 21 Jan 2011 10:55:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62675 Item (1A) of paragraph A of the Wealth-tax Act Schedule was held inapplicable to a Hindu undivided family where the relevant "member" condition was not met. The clause was construed to require an individual member of the larger HUF to have net wealth assessable above the prescribed limit for the assessment year; a smaller HUF was not treated as such a member. Because no member was assessable in an individual capacity with wealth above the threshold, the assessee did not fall within the express statutory terms and the normal wealth-tax rate applied. Case-Laws Wealth-tax Thu, 11 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62675