https://www.taxtmi.com/caselaws?id=57391 The Tribunal held that the exemption claim under section 2(e)(1)(v) of the Wealth-tax Act, 1957 for the value of share in a partnership was not applicable. It determined that the value of a partner's interest in a firm is includible in the net wealth under section 4(1)(b), rejecting the argument that the interest should be considered available for a limited period due to the partnership being at will. Relying on precedents, including decisions from the Bombay High Court and the Supreme Court, the Tribunal affirmed the inclusion of the partner's share in the net wealth, dismissing the appeals and upholding the lower authorities' decision. en-us Mon, 30 Apr 1984 00:00:00 +0530 Thu, 09 Dec 2010 18:38:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57391 The Tribunal held that the exemption claim under section 2(e)(1)(v) of the Wealth-tax Act, 1957 for the value of share in a partnership was not applicable. It determined that the value of a partner's interest in a firm is includible in the net wealth under section 4(1)(b), rejecting the argument that the interest should be considered available for a limited period due to the partnership being at will. Relying on precedents, including decisions from the Bombay High Court and the Supreme Court, the Tribunal affirmed the inclusion of the partner's share in the net wealth, dismissing the appeals and upholding the lower authorities' decision. Case-Laws Income Tax Mon, 30 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57391