Judgment Search Results Home > Cases Phrase: wealth tax act 1957 section 20 assessment after partition of a hindu undivided family Court: income tax appellate tribunal itat Page 1 of about 97 results (0.226 seconds)

B.B. Singal (Huf) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1990)32ITD567(Chd.)

..... property producing the income shall not be deemed to be a partition; or (ii) where the property does not admit of a physical division, then such division as the property admits of, but a mere severance of status shall not be deemed to be a partition; (b) 'partial partition' means a partition which is partial as regards the persons constituting the hindu undivided family, or the properties belonging to the hindu undivided family, or both.the legislature in the same finance act also made a provision for assessment after partial partition of a hindu undivided family by inserting section 20a into the wealth-tax act, 1957 with effect from 1-4-1980. ..... 31st day of december, 1978, among the members of a hindu undivided family hitherto assessed as undivided,- (a) such family shall continue to be liable to be assessed under this act as if no such partial partition had taken place; (b) each member or group of members of such family immediately before such partial partition and the family shall be jointly and severally liable for any tax, penalty, interest, fine or other sum payable under this act by the family in respect of any period, whether before or after such partial partition; (c) the several liability of any member or group of members .....

Shantha Balachander and S.B.S. Vs. First Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

..... section 4(1a) of the wealth-tax act, 1957, reads as follows : (1a) where, in the case of an individual being a member of a hindu undivided family, any property having been the separate property of the individual has, at any time after december 31, 1969, been converted by the individual into property belonging to the family through the act of impressing such separate property with the character of property belonging to the family or throwing it into the common stock of the family or been transferred by the individual, directly or indirectly to the family otherwise than for adequate consideration ..... i have, therefore, no doubt in holding the view that the value of such maintenance for life of his spouse by his son is nothing but a part of the converted property partitioned and, therefore, is a deemed asset includible in the wealth of the assessee and assessable in his hands within the meaning of the provisions of section 4(1a)(c) of the wealth-tax act, 1957. ..... while making the income tax assessment for the assessment year 1978-79, the income-tax officer came to the conclusion that the wife became entitled to the maintenance only as a result of the partition deed and, therefore, that income had to be added to the total income of the assessee under section 64(2)(b) of the income-tax act, 1961. .....

Valiya Aryan Bhattathiripad Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1991)38ITD489(Coch.)

..... the high court noticed that in all these cases, the assessments were pending on the date when the kerala legislature passed the kerala joint hindu family system (abolition) act, 1975 with effect from 1-12-1976 (in short 'abolition act') and that the only question that arises for consideration is how the pending proceedings should be finalised and whether the wealth-tax officer was justified in passing the assessment orders assigning the status "hindu undivided family", in the manner he did. ..... section 41 of the wealth-tax act, 1957, which provides for issue of notices on thedisrupted family does not conceive of the extinction of the family ..... third issue is whether there is any provision in the wealth-tax act, 1957, which will enable the wealth-tax officer to pass a valid assessment order once the assessee- huf has ceased to exist. ..... huf had assessable net wealth on the respective valuation dates and as such was liable to be assessed under the provisions of the wealth-tax act, 1957. ..... sankunny further submitted that there is no provision in the wealth-tax act, 1957 to make an assessment on a h.u.f. ..... after total or partial partition in sections 20 and 20a of the wealth-tax act. ..... similarly, there is no provision in the wealth-tax act, 1957 corresponding to the provisions of section 44 of the income-tax act, 1922 or corresponding to section 199 of the income-tax act, 1961 and as such the ratio decidendi laid down by the hon'ble supreme court should be squarely applied to the facts of this .....

S.V. Halappa and Sons Vs. Second Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT

Reported in : (1982)1ITD934(Bang.)

..... section 20(1) reads as under : 20(1) where at the time of making an assessment, it is brought to the notice of the wealth-tax officer that a partition has taken place among the members of a hindu undivided family, and the wealth-tax officer, after inquiry, is satisfied that the joint family property has been partitioned as a whole among the various members or groups of members in definite portions, he shall record an order to that effect and shall make assessments on the net wealth of the undivided family as such for the assessment year or years, including the year relevant to the previous year ..... what section 20(1) in our opinion provides is that if a partition by metes arid bounds has taken place on the last day of the previous year relevant to the year of assessment, the undivided family has to be assessed under the wealth-tax act as such in spite of the partition having taken place so far as that assessment year is concerned. ..... the wto did not accept the submission of the assessee.he held that according to section 20(1) of the wealth-tax act, 1957, if the partition has taken place on the last date of the previous year, the assessment has to be made in the hands of the huf as if no partition has taken place. .....

income-tax Officer/Wealth-tax Vs. R. Brahadeeswaran/N. Srinivasan

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1983)6ITD798(Mad.)

..... hindu undivided family, or the properties belonging to the hindu undivided family, or both.simultaneously, section 20a was introduced in the 1957 act in the following terms: where a partial partition has taken place after the 31st day of december, 1978, among the members of a hindu undivided family hitherto assessed as undivided,-- (a) such family shall continue to be liable to be assessed under this act as if no such partial partition had taken place, (b) each member or group of members of such family immediately before such partial partition and the family shall be jointly and severally liable for any tax ..... assessment, it is brought to the notice of the wealth-tax officer that a partition has taken place among the members of the hindu undivided family and the wealth-tax officer, after enquiry, is satisfied that the joint family property has been totally partitioned amongst the various members or groups of members in definite portions, he makes an order to that effect and makes assessment on the net wealth of the undivided family for the assessment year or years for which the family remained undivided ..... the circumstances of the case, the assets divided by a partial partition in a hindu undivided family and the income arising from those divided assets could be assessed as part of the net wealth/total income of the hindu undivided family the president having assigned the case to himself for disposal under section 255(4) of the act, the matter has come up before me for hearing as a .....

Wealth-tax Officer Vs. R. Krishna Murthy

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1992)40ITD89(Hyd.)

..... here again, the supreme court pointed out that section 171 of the income-tax act does not recognise the partition of a hindu undivided family even if it is effected by a decree of the court unless there is a physical division of the property of the family and if the property is not capable of being physically divided then unless there is a division of the property to the ..... murthy [1983] 143 itr 441, has pointed out that there is no difference between these two acts in principle, scope and object except that the words "hitherto assessed" occurring in section 171 of the income-tax act do not appear in the wealth-tax act and that omission had a different connotation and consequence but not the consequence to hold that a partition held to have taken place under the income-tax act has not taken place under the ..... a partition had taken place under certain circumstances and put up a claim for its acceptance under section 171 of the income-tax act, 1961, and also under section 20 of the wealth-tax act, 1957. ..... , the matter came up for consideration before the appellate assistant commissioner, anantapur, on appeals filed by the official receiver appointed by the sub-court, madanapalli, in the matter of settling disputes of partition and, in those appeals, the appellate assistant commissioner set aside the income-tax assessments directing the income-tax officer to redo the same after accepting the assessee's claim that a partition had taken place in the family with effect from april 14, 1975. .....

Shriram Sitaram Dahiwalkar Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1992)40ITD136(Nag.)

..... the (assessing officer) is not so satisfied, he may, by order, declare that such family shall be deemed for the purposes of this act to continue to be a hindu undivided family liable to be assessed as such.making the assessments in the status of huf by wto gives an implied meaning that he acted under the provisions of section 20(2) of the wealth-tax act, 1957. ..... case the question involved was after remand whether the assessment was made as a regular under section 143(3) or an exparte assessment under section 144 of the income-tax act. ..... to shri dewani this judgment is in respect of the income-tax act pertaining to the partial partition, under section 171 of the income-tax act and, therefore, the judgment of the supreme court given on the income-tax act is not applicable to the assessments made under the wealth-tax act. ..... cwt(a) are set aside and the same are remitted back to him to consider under section 18(1)(a) and 18(1)(c) of the wealth-tax act, 1957, after passing fresh order by giving an opportunity of being heard to the departmental valuation officer in the department's ..... officer nor heard him.therefore, it has become necessary to set aside the orders of the dy.cwt(a) and to remand the matters to her with a direction to pass fresh orders according to law and on merits after giving an opportunity of being heard to the assessee and by issuing a notice and hearing the departmental valuation officer regarding the valuation of properties made by him, which is a mandatory provision. .....

Hukam Chand Talwar Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1986)19ITD288(Delhi)

..... after a finding of total partition has been recorded by the wealth-tax officer under section 20 in respect of any hindu family, notices under this act in respect of the net wealth of the hindu family shall be served on the person who was the last manager of the hindu family, or, if such person is dead, then on all surviving adults who were members of the hindu family immediately before the ..... such notice or requisition may, in the case of a firm or a hindu undivided family, be addressed to any member of the firm or to the manager or any adult male member of the family, and in the case of any other association of persons be addressed ..... and accordingly the service of the notices has to be held as unauthorised one that is illegal and invalid and if it is so then it has to be further held that no notices under section 17 were served on the assessee for these assessment years and immunity available to the assessee under the voluntary disclosure scheme vis-a-vis returns filed on 31-12-1975 was available and penalties for late filing of returns for these ..... , levy of penalty under section 18(1)(a) of the wealth-tax act, 1957 ('the act')- the facts of the case as also the reasoning of the learned lower authorities and the stand of the parties being common and the learned first appellate authority having ..... . cit [1957] 32 itr 180 (lahore).the circumstance that a person not authorised to receive a notice, has on some prior occasions accepted service and signed the acknowledgement and in .....

Smt. S.V. Dhanwatay Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1989)28ITD135(Nag.)

..... (b) of the wealth-tax act, 1957 and section 26 of the income-tax act, 1961 to bring home the point that the co-owners in fact and in law are 'associates' and inter se they constitute 'association of persons' despite the fact that their shares be determinate and income assessable on those basis as co-owners---smt.prem lata agarwal v. ..... since the assessee here agitates and attacks the very jurisdiction of the district valuation officer to make the report, which has been adopted at the assessment stage for charge of her net wealth under the provisions of the wealth-tax act, 1957, we have entertained tins ground, although this was not raised specifically in so many words before the lower authorities. ..... the learned departmental representative contended in conclusion that the matter may be remanded back to the learned first appellate authority for deciding the issue of valuation afresh in accordance with law after considering the district valuation officer's report as well as the assessee's registered valuer's report on merits.the learned authorised representative of the assessee, shri thakar, in reply, contended that the argument that co-owners could be treated as ' ..... co-ownership involves the undivided integrity of what is owned. ..... so soon as each of two co-owners begins to own a part of the thing instead of the whole of it, the co-ownership has been dissolved into sole ownership by the process known as partition. .....

Sangita Trust No. 1 Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1994)50ITD66(Ahd.)

..... india for the purposes of this act or is a beneficiary under any other trust; or (ii) such assets are held under a trust created before the 1st day of march, 1970, by a non-testamentary instrument and the assessing officer is satisfied, having regard to all the circumstances existing at the relevant time, that the trust was created bona fide exclusively for the benefit of the relatives of the settlor or where the settlor is a hindu undivided family, exclusively for the ..... . with a view to countering attempts at tax avoidance through the creation of a specific trust, a new sub-section (1a) in section 21 of wealth-tax act was inserted to bring to tax the balance of the amount of net wealth after deduction of the value of life interest and interest of the remaindermen in the hands of the trustees ..... provisions of section 21.it is clear from the aforesaid judgment of the hon'ble supreme court that in the case of a private discretionary trust where the shares are indeterminate or unknown, it is the beneficial interest alone which is assessed to wealth-tax in the hands of the trustees and not the corpus of the trust properties.13.8 the supreme court in the aforesaid judgment, inter alia, held that in a case where beneficiaries have life interest in the trust, property and after their death or .....