https://www.taxtmi.com/caselaws?id=24894 Where a karta is a partner in a firm in a representative capacity for a Hindu undivided family, the partnership interest is treated as the family's property and is includible in its net wealth under the Wealth-tax Act, 1957. The High Court applied section 2(m) read with section 3 to hold that the value of that share formed part of the HUF's taxable net wealth, and section 4(1)(b) was not necessary for the determination. The reference was answered in favour of the Revenue. en-us Wed, 22 Jul 1987 00:00:00 +0530 Sat, 23 Jan 2010 10:57:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24894 Where a karta is a partner in a firm in a representative capacity for a Hindu undivided family, the partnership interest is treated as the family's property and is includible in its net wealth under the Wealth-tax Act, 1957. The High Court applied section 2(m) read with section 3 to hold that the value of that share formed part of the HUF's taxable net wealth, and section 4(1)(b) was not necessary for the determination. The reference was answered in favour of the Revenue. Case-Laws Wealth-tax Wed, 22 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24894