Home Case Index All Cases Wealth-tax Wealth-tax + HC Wealth-tax - 1973 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1973 (4) TMI 25 - MADRAS HIGH COURTOne Palaniappa Mudaliar owned considerable movable and immovable properties. He died on June 14, 1937, leaving behind him his only son Pichai alias Shanmugasundaram. The deceased had executed a will on 4th March, 1936 - Whether an executive-assessee is liable to wealth-tax in respect of the property held by him under will - We have already expressed our view that section 3 as such imposes charge only on those who own the wealth and not on those who merely possess the wealth for specified purposes without any personal or beneficial interest either in the properties or in their income. We are, therefore, clearly of the view that before the introduction of section 19A executors cannot be brought to charge under section 3 of the Wealth-tax Act in respect of the properties held by them as per the directions in the will except as provided under section 19.
|