Supreme Court · 1999 INSC 469 · Decided 8 October 1999
AV. Reddy Trust and ORS. v. Commissioner of Wealth Tax
- Court
- Supreme Court of India
- Citation
- 1999 INSC 469 · [1999] SUPP. 3 S.C.R. 580
- Case number
- CIVIL APPEAL No. 6077/1990
- Decided
- 8 October 1999
- Bench
- D.P. WADHWA, M.B. SHAH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Wealth Tax Act, 1957-S.21(1), (2) and (4}-Trust-Wealth Tax-Levy of-Mode of Assessment-Detennination of-Trusts created for the benefit of grand children and daughter-Sett/or constituted as sole trustee-Trust deed C creating contigent interest on beneficiaries in the corpus of Trust fund-Interest of of the trustee in representative capacity-Assessment not on the entire value of trust fund in the status of an individuaHiigh Court jus­ tified in holding that the provisions of S.21(4) and not S.21(1) or (2) were D applicable. One 'A' created four trusts for the benefit of his three grand
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