Supreme Court · 2000 INSC 584 · Decided 12 December 2000
Commissioner of Wealth Tax v. Prince Muffakham Jah Bahadur Chamlijan
- Court
- Supreme Court of India
- Citation
- 2000 INSC 584 · [2000] SUPP. 5 S.C.R. 518
- Case number
- CIVIL APPEAL No. 2388/1994
- Decided
- 12 December 2000
- Bench
- S.P. BHARUCHA, N. SANTOSH HEGDE, Y.K. SABHARWAL (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Wealth Tax Act, 1957---Sections 2(e), 2(m) and 7-Right of beneficiary C to live in a house duri'1g his lifetime free of rent--Held, it is a life interest and therefore an asset-Wealth Tax Rules, 1957-Rule JB. Respondent-assessee was a member of late Nizam's family who established several trusts. the trusts. U oder the terms of the trust deed, the trustees constructed a house and the D assessee had the right to live in the house during his lifetime without payment of rent. In his wealth tax returns for the assessment years 1969-70 to 1977- 78, the assessee did not include the said value of
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