https://www.taxtmi.com/caselaws?id=56074 The Tribunal upheld the decision of the Commissioner of Wealth-tax (Appeals) granting the benefit of section 7(4) to the Hindu Undivided Family (HUF) assessee for the property "Dhairya Prasad." The Tribunal directed the Wealth-tax Officer to adopt the market value as on 1-4-1971 for the assessment years 1979-80, 1980-81, and 1981-82. The Tribunal rejected the application of the doctrine of estoppel in taxation matters and confirmed that HUFs are eligible for the benefit under section 7(4) of the Wealth-tax Act, as long as the specified conditions are met. The revenue's appeals were dismissed. en-us Tue, 17 Jan 1989 00:00:00 +0530 Wed, 01 Dec 2010 14:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56074 The Tribunal upheld the decision of the Commissioner of Wealth-tax (Appeals) granting the benefit of section 7(4) to the Hindu Undivided Family (HUF) assessee for the property "Dhairya Prasad." The Tribunal directed the Wealth-tax Officer to adopt the market value as on 1-4-1971 for the assessment years 1979-80, 1980-81, and 1981-82. The Tribunal rejected the application of the doctrine of estoppel in taxation matters and confirmed that HUFs are eligible for the benefit under section 7(4) of the Wealth-tax Act, as long as the specified conditions are met. The revenue's appeals were dismissed. Case-Laws Wealth-tax Tue, 17 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56074