1981 (2) TMI 4

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.....-By this reference under s. 27(1) of the Wealth-tax Act, 1957 (hereinafter referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the assessee was rightly assessed in the status of an individual for the assessment year 1975-76 ? " Th....

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.... the Revenue. He, accordingly, issued a show-cause notice under s. 25(2) of the Act to the assessee. In reply to the show-cause notice, the assessee contended that the status of the assessee continued to be that of a HUF even after partition. The Commissioner, however, held that after the partition the assessee was holding the property in his individual capacity and hence his claim that he should ....

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....assessee. Learned counsel for the assessee referred to decision of the Supreme Court in N. V. Narendranath v. CWT [1969] 74 ITR 190. The Supreme Court has held in that case that under the Hindu system of law a joint family may consist of a single male member, his wife and daughter, and there is nothing in the W.T. Act to suggest that an HUF as an assessable unit must consist of at least two male m....