https://www.taxtmi.com/caselaws?id=13786 Property acquired in the names of three brothers was treated as Hindu undivided family property because the major consideration came from the father through an endorsed fixed deposit receipt, showing a family nucleus. The alleged release deed was unregistered and could not divest rights in immovable property, so it did not convert the asset into individual property. Consistent assessment of the assessee in HUF status from 1970-71 onwards further supported that character. On these concurrent factual findings, no substantial question of law arose, and the house property and its sale proceeds were not assessable in the individual hands for wealth-tax purposes. en-us Wed, 14 Mar 2001 00:00:00 +0530 Thu, 02 Jul 2009 17:02:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13786 Property acquired in the names of three brothers was treated as Hindu undivided family property because the major consideration came from the father through an endorsed fixed deposit receipt, showing a family nucleus. The alleged release deed was unregistered and could not divest rights in immovable property, so it did not convert the asset into individual property. Consistent assessment of the assessee in HUF status from 1970-71 onwards further supported that character. On these concurrent factual findings, no substantial question of law arose, and the house property and its sale proceeds were not assessable in the individual hands for wealth-tax purposes. Case-Laws Wealth-tax Wed, 14 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13786