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1976 (1) TMI 24 - CALCUTTA HIGH COURTExtract: .......intended such a position. In any event, the charging section, that is, section 3, is quite clear and it is only the individual, viz., an existing individual, who can be assessed to wealth-tax only if he is in possession of such wealth on the date of valuation. The construction as suggested by Mr. B. L. Pal, for the above reasons, is not acceptable.
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