https://www.taxtmi.com/caselaws?id=68730 For wealth-tax purposes, property orally gifted by an assessee to his wife in discharge of dower debt was treated as excluded from the assessee's net wealth because the gift was complete in law, accepted, acted upon by mutation, and followed by the wife's possession and enjoyment. The Tribunal applied the amended deemed-ownership provisions retrospectively and treated the person exercising ownership rights in his own right as the real owner for tax purposes. It also found no Rule 46A violation because the appellate authority relied on the existing record and no inadmissible fresh evidence was established. en-us Wed, 26 Jun 2002 00:00:00 +0530 Fri, 01 Apr 2011 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68730 For wealth-tax purposes, property orally gifted by an assessee to his wife in discharge of dower debt was treated as excluded from the assessee's net wealth because the gift was complete in law, accepted, acted upon by mutation, and followed by the wife's possession and enjoyment. The Tribunal applied the amended deemed-ownership provisions retrospectively and treated the person exercising ownership rights in his own right as the real owner for tax purposes. It also found no Rule 46A violation because the appellate authority relied on the existing record and no inadmissible fresh evidence was established. Case-Laws Income Tax Wed, 26 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68730