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2009 (2) TMI 52 - HC - Wealth-taxRight or interest in property – property of trust which was created by assessee’s grandfather - Whether Tribunal was right in holding that right to purchase property at a fixed sum was an asset includible in the total wealth of the assessee – assessee’s contention that mere right to purchase may be for an ascertained price is not property or interest in property and, therefore, could not have been added to his net wealth, is accepted – question is answered in negative and in favour of assessee
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