https://www.taxtmi.com/circulars?id=9400 The Board advised that the deceased's share in the principal value of joint family property should be determined first and then the proportionate residential house exemption under Sec.33(1)(n) allowed from that share, because the statutory valuation provision is to be invoked only for the limited purpose of estimating principal value and only provisions bearing on that estimation should apply. en-us Mon, 20 Apr 1981 00:00:00 +0530 Sat, 04 Jun 2011 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9400 The Board advised that the deceased's share in the principal value of joint family property should be determined first and then the proportionate residential house exemption under Sec.33(1)(n) allowed from that share, because the statutory valuation provision is to be invoked only for the limited purpose of estimating principal value and only provisions bearing on that estimation should apply. Circulars Income Tax Mon, 20 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9400