https://www.taxtmi.com/caselaws?id=60037 The Tribunal ruled in favor of the Hindu Undivided Family (HUF), determining that the property subjected to partial partition under Hindu law should be excluded from the HUF's net wealth. The compensation received for the acquired portion was also excluded. Additionally, the equity shares were deemed exempt from Wealth-tax, and the loan against the life insurance policy could not be deducted from the aggregate value of assets. The departmental appeal was dismissed, and the assessee's cross-objection was partially allowed. en-us Thu, 08 Sep 1983 00:00:00 +0530 Mon, 03 Jan 2011 14:34:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60037 The Tribunal ruled in favor of the Hindu Undivided Family (HUF), determining that the property subjected to partial partition under Hindu law should be excluded from the HUF's net wealth. The compensation received for the acquired portion was also excluded. Additionally, the equity shares were deemed exempt from Wealth-tax, and the loan against the life insurance policy could not be deducted from the aggregate value of assets. The departmental appeal was dismissed, and the assessee's cross-objection was partially allowed. Case-Laws Wealth-tax Thu, 08 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60037