Rajasthan High Court affirms Tribunal ruling on indirect transfers to family members
Smt. Kamla Versus Commissioner Of Wealth-Tax
Smt. Kamla Versus Commissioner Of Wealth-Tax - [1987] 167 ITR 416, 63 CTR 87, 31 TAXMANN 295 The High Court of Rajasthan upheld the decision of the Income-tax Appellate Tribunal regarding indirect transfers of gifts to minor children and a husband, ruling in favor of the Revenue. The Tribunal found the transfers to be interrelated and included them in the net wealth under the Wealth-tax Act, 1957. The judgment was delivered by N. M. Kasliwal J. and Farooq Hasan.