Supreme Court · 1988 INSC 211 · Decided 9 August 1988
Commissioner of Wealth Tax, Allahabad v. Arvind Narottam (INDL.)
- Court
- Supreme Court of India
- Citation
- 1988 INSC 211 · [1988] SUPP. 2 S.C.R. 266
- Case number
- CIVIL APPEAL No. 2034/1974
- Decided
- 9 August 1988
- Bench
- R.S. PATHAK, SABYASACHI MUKHERJI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
OF WEALTH TAX, ALLAHABAD v. ARVIND .NAROTTAM (INDL.) AUGUST 9, 1988 B. [R.S. PATHAK, CJ. AND SABYASACHI MUKHARJI, J.) c Wealth Tax Act, 1957-S. 21(2)-Assets held under Trusts-Mere right to be considered for distribution of income or corpus cannot be regarded as an 'interest'-There must be a deeds in question was assessed to tax under sub-s. (2) of s. 21 of the Wealth Tax Act, on the entire value of the assets held by the trusts. On appeal, the Appellate Assistant Commissioner confined the liability of the assessee to wealth tax on the D capitalised value of the minimum amounts
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