Magnetization and sound propagation studied on a high-quality single crystal of ferrimagnetic compound TmFe5Al7 in high magnetic fields up to 60 Tesla reveal very unusual combination of spontaneous and field-induced transitions as the Tm provides an uniaxial magnetic anisotropy, whereas Fe favors an easy-plane anisotropy. This competition results in a omplex scenario of magnetic order including in-plane antiferromagnetic phase...