1982 (9) TMI 161 - AT - Income Tax

Summary

The deceased had a share in joint family properties, including a residential house. The Asstt. CED did not exclude the value of the house while determining the share of lineal descendants. The appellate CED dismissed the appeal, but the accountable person argued for deduction under s. 33(1)(n). The Tribunal allowed the appeal, following the Allahabad High Court's decision that exempt properties should not be included for rate purposes.