Supreme Court · 1993 INSC 39 · Decided 4 February 1993
Commissioner of Wealth Tax v. DR. Karan Singh and Others ETC.
- Court
- Supreme Court of India
- Citation
- 1993 INSC 39 · [1993] 1 S.C.R. 569
- Case number
- CIVIL APPEAL No. 1290/1985
- Decided
- 4 February 1993
- Bench
- L.M. SHARMA, S. RATNAVEL PANDIAN, S. MOHAN, B.P. JEEVAN REDDY, S.P. BHARUCHA (5-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution
Headnote
-~ Wealth Tax Ac4 1957: S. 1(2), 2, 3, 4, 5, 6, 7-Application of the Act (not including within its c purview agricultural /ands/assets) to State of Jammu and Kashmir-Held, the .- Act as originally enacted is covered by Entry 86 of List I of Schedule VII to the Constitution of India and its of Jammu and Kashmir is constitutional. Wealth TtIJ<-Held, is a net wealth t~The tax is not upon the assets D as such but is upon individuals, companies etc. with reference to 'Capital value of the assets' held by them-The tax is an annual levy on total value of all assets owned by Qll
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