COMMISSIONER OF WEALTH TAX versus D. KRISHNA MURTHY
Asset Price HUF Affiliated Land In the individual capacity of the HUF card belonging to the land, the building may be used as a residential home by HUF Section 7 (4) Applicable Land for Assessment Purposes and Building primarily the building and the land. The price allocation to the land will be evaluated separately as the HUF property. The value of the building shall be calculated according to the individual capacity of the Indian Taxes Act, 1957, Section 7 (4).
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