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2002 (8) TMI 32 - HC - Income Tax"1. Whether, Tribunal is justified in law in holding and had valid materials to hold that the assessment made under the Wealth-tax Act on the Hindu undivided family consisting of three brothers was untenable and should be annulled? - 2. Whether, Tribunal is justified in law and had reasonable materials to come to the conclusion that there was a division of the two properties situate in Coimbatore and Ooty in definite portion for purposes of wealth-tax? - 3. Whether, Tribunal is justified in law in holding and had valid materials to hold that the property in Desabandhu Street, Coimbatore, was only the individual property of three brothers held as tenants-in-common and was not held as the property of the joint family of three brothers? - 4. Whether, Tribunal's conclusion that the value of the two houses in Coimbatore and Ooty could be estimated only by the capitalisation of the rent method is a reasonable view and valid on the facts?" – All questions are answered in the affirmative, against the, Revenue and in favour of the assessee.
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