https://www.taxtmi.com/caselaws?id=61096 The Tribunal concluded that the jewellery worth Rs. 20,000 did not belong to the HUF and should not be included in its net wealth for the assessment years under appeal. However, the exemption claimed by the assessee for certain assets for the assessment years 1971-72 and 1972-73 was denied by the Tribunal as the statutory holding period requirement was not met. The case was allowed in favor of the assessee in WTA Nos. 418 to 421, 424, and 425 of 1976-77, and partly allowed in WTA Nos. 422 & 423 of 1976-77. en-us Wed, 19 Jul 1978 00:00:00 +0530 Mon, 10 Jan 2011 18:01:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61096 The Tribunal concluded that the jewellery worth Rs. 20,000 did not belong to the HUF and should not be included in its net wealth for the assessment years under appeal. However, the exemption claimed by the assessee for certain assets for the assessment years 1971-72 and 1972-73 was denied by the Tribunal as the statutory holding period requirement was not met. The case was allowed in favor of the assessee in WTA Nos. 418 to 421, 424, and 425 of 1976-77, and partly allowed in WTA Nos. 422 & 423 of 1976-77. Case-Laws Wealth-tax Wed, 19 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61096