COMMISSIONER OF WEALTH TAX versus BHAVANI DEVI SADHAIYA
Involvement of net wealth The value of assets transferred to the benefit of the minor child of the son is the value of the assets held by the spouse, on which the assets are left directly or indirectly without proper consideration for the transfer. Has been constituted for the benefit of the trust association in connection with the Assets transferred to the assets of the son / minor child transferred to the trust to accrue income and to the property owner to receive at the age of twenty-one with the spouse of the trust appointed by the reviewer. The property was not held to the immediate benefit of the minor grandson. Investigation of the assets transferred to the trust was not included in the net wealth of the Indian Wealth Tax Act, 1957, Section 4.
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