https://www.taxtmi.com/caselaws?id=56615 Wealth-tax valuation had to be made on the relevant valuation date, so an earlier Settlement Commission figure for Neelbagh Palace was not conclusive for the later year and the departmental valuation was upheld. An undivided 1/6th share in HUF property could not be excluded from net wealth without an actual separation or legally accepted partition, so the exclusion claim failed. The alleged Balrampur Tenantry War Loan liability was not proved as an enforceable debt on the valuation date, since the claims were old, the creditors were uncertain and the relied-on trust deed was executed later, so no deduction was allowed. en-us Fri, 27 Mar 1987 00:00:00 +0530 Sat, 04 Dec 2010 18:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56615 Wealth-tax valuation had to be made on the relevant valuation date, so an earlier Settlement Commission figure for Neelbagh Palace was not conclusive for the later year and the departmental valuation was upheld. An undivided 1/6th share in HUF property could not be excluded from net wealth without an actual separation or legally accepted partition, so the exclusion claim failed. The alleged Balrampur Tenantry War Loan liability was not proved as an enforceable debt on the valuation date, since the claims were old, the creditors were uncertain and the relied-on trust deed was executed later, so no deduction was allowed. Case-Laws Income Tax Fri, 27 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56615