https://www.taxtmi.com/caselaws?id=6252 The Supreme Court allowed the appeals, overturning the High Court's decision. The court held that the trustee under the trust deed dated July 19, 1949, was assessable to wealth-tax under section 21 of the Wealth-tax Act. Additionally, the court determined that the shares of the beneficiaries were indeterminate on the relevant valuation dates, necessitating assessment under section 21(4). The respondent was ordered to pay the costs of the department in both the Supreme Court and the High Court. Appeals allowed. en-us Thu, 29 Jul 1971 00:00:00 +0530 Fri, 17 Jul 2015 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6252 The Supreme Court allowed the appeals, overturning the High Court's decision. The court held that the trustee under the trust deed dated July 19, 1949, was assessable to wealth-tax under section 21 of the Wealth-tax Act. Additionally, the court determined that the shares of the beneficiaries were indeterminate on the relevant valuation dates, necessitating assessment under section 21(4). The respondent was ordered to pay the costs of the department in both the Supreme Court and the High Court. Appeals allowed. Case-Laws Income Tax Thu, 29 Jul 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6252