Gujarat HC Notice on Wealth Tax Act Agreement's Restrictive Covenant

The Gujarat HC admitted the case and issued notice to the respondent on substantial questions of law regarding an encumbrance created in an agreement dated 27/3/1982 under the Wealth Tax Act, 1957. The issue revolved around whether the agreement would function as a restrictive covenant and remain binding despite asset distribution by the trustees.

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The Gujarat High Court admitted the case and issued notice to the respondent on substantial questions of law regarding the encumbrance created in an agreement dated 27/3/1982 under the Wealth Tax Act, 1957. The questions involved whether the agreement would operate as a restrictive covenant and as a binding document despite asset distribution by the trustees.

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