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1972 (8) TMI 16 - HC - Wealth-taxFirst case is with reference to an assessment made under the Wealth-tax Act while the other is with reference to an assessment made under the Estate Duty Act – held that property constructed out of the joint family funds which was used by the pilgrims and not by the members of the family is the trust property, It cannot be subjected to Estate Duty or wealth-tax - building " Nataraja Nilayam " is a trust property and that neither the deceased nor the assessee has any proprietary interest therein. Therefore, the inclusion of the half share of the value of " Nataraja Nilayam " in the net wealth of the assessee for the years 1961-62 and 1962-63 cannot be justified.
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