Supreme Court · 1966 INSC 124 · Decided 6 May 1966
H. H. Yeshwant Rao Ghorpade v. The Commissioner of Wealth Tax, Bangalore
- Court
- Supreme Court of India
- Citation
- 1966 INSC 124 · [1966] SUPP. 1 S.C.R. 419
- Case number
- CIVIL APPEAL No. 1133/1965
- Decided
- 6 May 1966
- Bench
- K.N. WANCHOO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Wealth Ta:c Act 1957, s. 4(1)(a)(iii)-whether the word "benefit" meant '1immediate 01' deferred" benefit or only imm.ediate bene- ~ . Wealth TilJJ: (Amendment) Act 1964, s. 4-effect of-whether only declaratory, In August 1957 the appellant created two Trusts by two sepa­ rate the other a fa­ mily trust'. He then transferred certain shares to the family trust the scheme of which was that during the minority of each of three children of the appellant the property in Schedules A, B and C' to the deed qua each beneficiary was to remain vested ir. the trustees for
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