https://www.taxtmi.com/caselaws?id=35761 A Marumakkattayam tarwad was treated as falling within the expression "Hindu undivided family" for wealth-tax purposes under the Wealth-tax Act, so its wealth could be brought within the charging provision. For escaped-assessment action under section 17, the statutory precondition was a reasonable belief, based on failure to furnish a return, that taxable wealth had escaped assessment against a legally subsisting assessable entity. After statutory disruption of the tarwad, fresh proceedings could not be initiated against a non-existent joint family through notice to the karta. In valuation, compensation fixed in land acquisition could not automatically represent market value where title was disputed and litigation risk affected marketability. en-us Wed, 28 Jan 1981 00:00:00 +0530 Tue, 16 Mar 2010 14:25:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35761 A Marumakkattayam tarwad was treated as falling within the expression "Hindu undivided family" for wealth-tax purposes under the Wealth-tax Act, so its wealth could be brought within the charging provision. For escaped-assessment action under section 17, the statutory precondition was a reasonable belief, based on failure to furnish a return, that taxable wealth had escaped assessment against a legally subsisting assessable entity. After statutory disruption of the tarwad, fresh proceedings could not be initiated against a non-existent joint family through notice to the karta. In valuation, compensation fixed in land acquisition could not automatically represent market value where title was disputed and litigation risk affected marketability. Case-Laws Wealth-tax Wed, 28 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35761