1984 (7) TMI 220 - AT - Wealth-tax

Summary

The Revenue claimed the assessee should be assessed as HUF, but the Tribunal found no merit in the appeals and dismissed them. The AAC canceled the assessment as there was no actual partition among legal heirs. The Supreme Court decision stated that legal heirs can only be tenants in common after a coparcener's death. The ITO acknowledged that each legal heir's share should be assessed separately.