1987 (1) TMI 69 - HC - Wealth-tax

Summary

The High Court of Madhya Pradesh allowed the applications under section 27(3) of the Wealth-tax Act, 1957. The Tribunal was directed to refer the question of law regarding the inclusion of life interest and reversion to corpus in the total wealth of the assessee to the court for its opinion. The decision was based on the reversal of a previous court ruling by the Supreme Court.