https://www.taxtmi.com/caselaws?id=70396 Jewellery transferred under a deed that allowed revocation only after 74 months was treated as an irrevocable transfer for the relevant period under the Wealth-tax Act, so the value of the asset was not includible in the transferor's net wealth until any revocation power was actually exercised. The transferor's retained interest was not regarded as an asset in her hands while the transferee was entitled to hold the property for more than six years. Accordingly, the jewellery was excluded from the assessee's net wealth on the valuation date. en-us Thu, 04 Jan 1990 00:00:00 +0530 Fri, 15 Apr 2011 18:55:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70396 Jewellery transferred under a deed that allowed revocation only after 74 months was treated as an irrevocable transfer for the relevant period under the Wealth-tax Act, so the value of the asset was not includible in the transferor's net wealth until any revocation power was actually exercised. The transferor's retained interest was not regarded as an asset in her hands while the transferee was entitled to hold the property for more than six years. Accordingly, the jewellery was excluded from the assessee's net wealth on the valuation date. Case-Laws Wealth-tax Thu, 04 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70396