https://www.taxtmi.com/caselaws?id=56795 The Tribunal dismissed the appeals filed by the assessee regarding the valuation of immovable property for assessment years 1977-78, 1979-80, 1980-81, and 1981-82. The controversy centered on the valuation of a property in Kanpur and the allowance of a 10% deduction for joint ownership in an HUF. The Tribunal held that in an HUF, joint ownership does not apply as the entire HUF owns the property, emphasizing the principles of joint Hindu family ownership. The appeals were deemed lacking in merit and were ultimately dismissed based on the specific circumstances and Hindu law principles. en-us Mon, 25 May 1987 00:00:00 +0530 Mon, 06 Dec 2010 17:20:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56795 The Tribunal dismissed the appeals filed by the assessee regarding the valuation of immovable property for assessment years 1977-78, 1979-80, 1980-81, and 1981-82. The controversy centered on the valuation of a property in Kanpur and the allowance of a 10% deduction for joint ownership in an HUF. The Tribunal held that in an HUF, joint ownership does not apply as the entire HUF owns the property, emphasizing the principles of joint Hindu family ownership. The appeals were deemed lacking in merit and were ultimately dismissed based on the specific circumstances and Hindu law principles. Case-Laws Wealth-tax Mon, 25 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56795