https://www.taxtmi.com/caselaws?id=16179 The High Court ruled in favor of the Revenue in a case involving the interpretation of the assessee's interest in a partnership firm inherited under a will. The Court held that the assessee acquired the asset under the will and was entitled to recover it from the firm, rejecting the Tribunal's view based on a subsequent agreement. The Court emphasized valuing the asset based on the inheritance date and clarified that relevant provisions of the Wealth-tax Act applied, impacting the wealth tax calculation in favor of the Revenue. en-us Fri, 21 Aug 1998 00:00:00 +0530 Tue, 01 Sep 2009 15:59:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16179 The High Court ruled in favor of the Revenue in a case involving the interpretation of the assessee's interest in a partnership firm inherited under a will. The Court held that the assessee acquired the asset under the will and was entitled to recover it from the firm, rejecting the Tribunal's view based on a subsequent agreement. The Court emphasized valuing the asset based on the inheritance date and clarified that relevant provisions of the Wealth-tax Act applied, impacting the wealth tax calculation in favor of the Revenue. Case-Laws Wealth-tax Fri, 21 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16179