https://www.taxtmi.com/caselaws?id=6386 The Supreme Court considered the valuation of an interest under a trust deed governed by the Wealth-tax Act, 1957. The main issue was whether the interest had any value. The Court held that even though the estate was personal and not marketable, it needed to be valued based on the Act's principles. The Court emphasized that the interest had to be valued assuming an open market scenario. The decision reaffirmed the necessity of valuing interests under trust deeds for wealth tax purposes, following relevant court precedents. The Court dismissed the appeals due to lack of support by reasons. en-us Thu, 16 Sep 1971 00:00:00 +0530 Thu, 04 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6386 The Supreme Court considered the valuation of an interest under a trust deed governed by the Wealth-tax Act, 1957. The main issue was whether the interest had any value. The Court held that even though the estate was personal and not marketable, it needed to be valued based on the Act's principles. The Court emphasized that the interest had to be valued assuming an open market scenario. The decision reaffirmed the necessity of valuing interests under trust deeds for wealth tax purposes, following relevant court precedents. The Court dismissed the appeals due to lack of support by reasons. Case-Laws Wealth-tax Thu, 16 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6386