https://www.taxtmi.com/caselaws?id=15740 Urban land owned by a Hindu undivided family did not qualify for exemption from additional wealth-tax because the statutory condition requires the assessee itself to carry on the business or profession. A partnership firm conducting the nursery business was a separate assessable entity, and the fact that coparceners were partners did not make the firm's business that of the family. Mere use of family-owned land by the firm, or indirect benefit to the family, was insufficient to satisfy the exemption condition. The land therefore remained liable to additional wealth-tax. en-us Tue, 21 Jul 1998 00:00:00 +0530 Thu, 27 Aug 2009 13:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15740 Urban land owned by a Hindu undivided family did not qualify for exemption from additional wealth-tax because the statutory condition requires the assessee itself to carry on the business or profession. A partnership firm conducting the nursery business was a separate assessable entity, and the fact that coparceners were partners did not make the firm's business that of the family. Mere use of family-owned land by the firm, or indirect benefit to the family, was insufficient to satisfy the exemption condition. The land therefore remained liable to additional wealth-tax. Case-Laws Wealth-tax Tue, 21 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15740