Supreme Court · 1970 INSC 41 · Decided 25 February 1970
Commissioner of Wealth Tax, Gujarat at Ahmedabad v. MRS. Arundhati Balkrishna
- Court
- Supreme Court of India
- Citation
- 1970 INSC 41 · [1970] 3 S.C.R. 819
- Case number
- CIVIL APPEAL No. 1991/1968
- Decided
- 25 February 1970
- Bench
- J.C. SHAH, K.S. HEGDE, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Wealth Tax Act (27 of 1957), ss. 1(e) (iv) and 5(1)(vii)-Receipt of share from trust funds-When 'annuity'-Jewellery intended for personal use-Whether exempt. The assessee was an individual. She was entitled for her life, to an aUquot share of the income arising from the funds settled on trust by received payments of such share. She also possessed jewellery, intended for her personal use, of the value of Rs. 80,000. On the questions : ( 1) whether the payments to the assessee were annuities falling within the scope of s. 2(e)(iv) of the Wealth Tax Act, 1957, whose value could not be
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