https://www.taxtmi.com/caselaws?id=70119 The appeals of the assessee were allowed, and the unspent contribution of Rs. 14 lakh was excluded from the net wealth of the assessee. The trust ceased to be the owner of the fund from 1-4-1980 due to the retrospective operation of section 40A(11), impacting the liability of the assessee-trust to Wealth-tax. The trust qualified for the exclusion based on this retrospective effect, as determined by the Third Member's decision. en-us Mon, 13 Jul 1998 00:00:00 +0530 Wed, 25 Dec 2019 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70119 The appeals of the assessee were allowed, and the unspent contribution of Rs. 14 lakh was excluded from the net wealth of the assessee. The trust ceased to be the owner of the fund from 1-4-1980 due to the retrospective operation of section 40A(11), impacting the liability of the assessee-trust to Wealth-tax. The trust qualified for the exclusion based on this retrospective effect, as determined by the Third Member's decision. Case-Laws Benami Property Mon, 13 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70119