1994 (3) TMI 23

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..... , 1981, in respect of the assessment years 1975-76 to 1977-78 under section 27(1) of the Wealth-tax Act, 1957 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the amount of Rs. 3,50,000 could not be included in the assessment of the trust for the year under consideration ?" On the last date of hearing on September 7, 1993, learned counsel .....

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..... Tribunal that the executor has yet to pay the amount of Rs. 3,50,000 to the assessee-trust and the said asset, namely, the sum of Rs. 3,50,000, still continues with the executor and has not been parted with by him to the assessee-trust. In these facts and circumstances, we are of the view that the Income-tax Appellate Tribunal was justified in holding that the amount of Rs. 3,50,000 could not be i .....

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