1998 (4) TMI 54

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..... elf, his two sons, one daughter and wife. The assessee-Shri B. Sivaprakash, is one of the two sons of the said A. T. Balakrishnan. The property at No. 301, T. H. Road, Madras, is the self-acquired property of the said assessee. What he did was, he threw the said self-acquired property in the hotchpot of the Hindu undivided family on July 27, 1970, and, on the same day, a partial partition was ef .....

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..... h, Madras, dated November 27, 1977, relating to the assessment year 1972-73 and following the aforesaid order of the Tribunal, directed the Wealth-tax Officer to exclude that portion of the value of the property of door No. 301, T. H. Road, from the net wealth of the assessee. On appeal by the Revenue, the Tribunal, upheld the orders of the Appellate Assistant Commissioner, as they were in accor .....

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..... 1999] 238 ITR 801), took the view that the partial partition effected in the said family, as relatable to the property at door No. 301, T. H. Road, Madras, was a valid one and following the aforesaid decision of the other Bench of this court, we hold that the mother's 1/3rd share in the said property has to be necessarily excluded from the net wealth of the assessee. The common question is thus an .....

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