Deemed ownership of impartible estate treats holder as individual owner for wealth tax purposes under the Act. For wealth tax purposes, the statute treats the holder of an impartible estate as the individual owner of every property comprised in that estate, attributing ownership and taxable character of all estate properties to the holder and making the holder the relevant taxpayer for assessment under the Act.
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.
Deemed ownership of impartible estate treats holder as individual owner for wealth tax purposes under the Act.
For wealth tax purposes, the statute treats the holder of an impartible estate as the individual owner of every property comprised in that estate, attributing ownership and taxable character of all estate properties to the holder and making the holder the relevant taxpayer for assessment under the Act.
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