https://www.taxtmi.com/caselaws?id=61204 Partial partition of HUF immovable property was treated as recognisable for wealth-tax purposes for the assessment years in question because the same factual position had already been accepted in income-tax proceedings and earlier proceedings. The provision then in force was read as not excluding such recognition before the later insertion of section 20A of the Wealth-tax Act, 1957, and, where two reasonable views were possible, the interpretation favourable to the taxpayer was applied. On that basis, only the reduced net wealth of the HUF was chargeable in the family assessment, and the Revenue's appeals failed. en-us Mon, 19 Jul 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:57:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61204 Partial partition of HUF immovable property was treated as recognisable for wealth-tax purposes for the assessment years in question because the same factual position had already been accepted in income-tax proceedings and earlier proceedings. The provision then in force was read as not excluding such recognition before the later insertion of section 20A of the Wealth-tax Act, 1957, and, where two reasonable views were possible, the interpretation favourable to the taxpayer was applied. On that basis, only the reduced net wealth of the HUF was chargeable in the family assessment, and the Revenue's appeals failed. Case-Laws Wealth-tax Mon, 19 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61204