https://www.taxtmi.com/caselaws?id=70187 The Tribunal upheld the AAC's decision in a case where the Revenue appealed for the inclusion of interest accrued on amounts transferred to family members in wealth assessment. The Tribunal ruled that only the originally transferred amount, not the accrued interest, should be included as per s. 4(1A) of the Wealth Tax Act. Additionally, the Tribunal accepted the genuine nature of the partition and conversion of property into a Hindu Undivided Family, directing that only the originally transferred amount should be considered in assessments, not increased sums. This judgment clarifies the interpretation of s. 4(1A) provisions, emphasizing the exclusion of accrued interest from wealth tax assessments. en-us Thu, 15 Nov 1979 00:00:00 +0530 Thu, 14 Apr 2011 17:32:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70187 The Tribunal upheld the AAC's decision in a case where the Revenue appealed for the inclusion of interest accrued on amounts transferred to family members in wealth assessment. The Tribunal ruled that only the originally transferred amount, not the accrued interest, should be included as per s. 4(1A) of the Wealth Tax Act. Additionally, the Tribunal accepted the genuine nature of the partition and conversion of property into a Hindu Undivided Family, directing that only the originally transferred amount should be considered in assessments, not increased sums. This judgment clarifies the interpretation of s. 4(1A) provisions, emphasizing the exclusion of accrued interest from wealth tax assessments. Case-Laws Wealth-tax Thu, 15 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70187