Wealth tax coverage expanded to expressly include companies alongside other associations, clarifying taxable entity scope. The amendment replaces the existing phrase in sub section (2) of section 41 of the Wealth tax Act with wording that expressly includes a company alongside any other association of persons, thereby clarifying that the sub section applies to companies as well as other associations of persons.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth tax coverage expanded to expressly include companies alongside other associations, clarifying taxable entity scope.
The amendment replaces the existing phrase in sub section (2) of section 41 of the Wealth tax Act with wording that expressly includes a company alongside any other association of persons, thereby clarifying that the sub section applies to companies as well as other associations of persons.
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