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TMI Blog1981 (7) TMI 125X X X X Extracts X X X X X X X X Extracts X X X X ..... T Act are applicable to the assessee. Shri Vimal Chand Ajmera claims to be the karta of the assessee HUF Shri V. Ajmera s maternal grand father Shri Rajmalji Sethi was being assessed in the name of Chandmal Rajmal. He died in 1940 and V. Ajmera, who was a minor, inherited the properties. He became major sometime in 1952. The assets of M/s Chandmal Rajmal were being included in the wealth of Shri V ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , in the opinion of the WTO since the assets were thrown into the common hotchpot on a date subsequent to 31st Dec., 1969, the provisions of s. 4(1A) of the WT Act were applicable to the assessee. Thus, excluding 1/5th of the share belonging to the major sons rest of the assets inherited from the maternal grand father was included in the net wealth of the assessee. 2. The assessee went in appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted as a Separate property of the receiver. Reliance was placed on para 230 of Mulla s Hindu Law, 13th Edition, page 256. He also referred to para 223(2) at page 249. It was argued by him that the property was individual property and further blending could not be inferred to have taken place earlier to 31st Dec., 1969. 4. The ld. counsel for the assessee argued that the affidavit dt. 23rd Oct., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hence we have hold that the observations of the AAC that the property received by the assessee from a maternal ancestor became joint family property in the hands of Shri Vimal Chand Ajmera, is incorrect. 6. However, we are at a loss to understand how s. 4(1A) could be applied in this case. This section applies only to individuals. The WTO having granted the status of HUF to the assessee, cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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