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2004 (9) TMI 63 - ALLAHABAD HIGH COURT"1. Whether, on a true interpretation of the trust deeds, the Tribunal was justified in law in concluding that the interest of each of the beneficiaries under these trusts on each of the valuation dates, was indeterminate and the beneficiaries were unknown and accordingly in holding that the assessments of the beneficial interests in the trust properties of the beneficiaries could be made on the trustees only under section 21(4) of the Wealth-tax Act, 1957? 2. Whether, on a true interpretation of the provisions of section 25(2), the Commissioner of Wealth-tax had validly assumed jurisdiction and was justified in law in holding that the assessments made by the Wealth-tax Officer under section 21(2) of the Wealth-tax Act, 1957, were erroneous?" - We answer both the questions of law referred to us in the affirmative, i.e., in favour of the Revenue and against the assessees
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