https://www.taxtmi.com/circulars?id=10316 Board Circular No.3 W.T. (1957) provision that rights in tangible movable property are located in India "or if it is in transit to India" is rendered inapplicable by the Supreme Court decision in Consolidated Pneumatic Tools Co., which held that goods in transit to India are not located in India for wealth-tax; accordingly that phrase in paragraph 2(c) of the 1957 Circular is cancelled and officers are to be informed. en-us Wed, 29 Jan 1975 00:00:00 +0530 Mon, 13 Jun 2011 15:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10316 Board Circular No.3 W.T. (1957) provision that rights in tangible movable property are located in India "or if it is in transit to India" is rendered inapplicable by the Supreme Court decision in Consolidated Pneumatic Tools Co., which held that goods in transit to India are not located in India for wealth-tax; accordingly that phrase in paragraph 2(c) of the 1957 Circular is cancelled and officers are to be informed. Circulars Income Tax Wed, 29 Jan 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10316