1988 (8) TMI 2 - SC - Wealth-tax

Whether, the finding that it is only the capitalised value of the interest of the assessee that has to be included in the net wealth of the assessee is in law justified - however, where the true effect on the construction of the deeds is clear, as in this case, the appeal to discourage tax avoidance is not a relevant consideration. But since it was made, it has to be noted and rejected - revenue appeal is dismissed