https://www.taxtmi.com/caselaws?id=6515 The Supreme Court affirmed the High Court's decision that trustees can be assessed under section 3 of the Wealth-tax Act as individuals but must be evaluated in compliance with section 21. It was established that multiple distinct trusts were created, and section 21(4) was deemed inapplicable as beneficiaries and their shares were determinate on the valuation date. The appeals were rejected, and the Commissioner was directed to cover the costs for the assessees. en-us Tue, 03 May 1977 00:00:00 +0530 Thu, 22 Sep 2016 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6515 The Supreme Court affirmed the High Court's decision that trustees can be assessed under section 3 of the Wealth-tax Act as individuals but must be evaluated in compliance with section 21. It was established that multiple distinct trusts were created, and section 21(4) was deemed inapplicable as beneficiaries and their shares were determinate on the valuation date. The appeals were rejected, and the Commissioner was directed to cover the costs for the assessees. Case-Laws Wealth-tax Tue, 03 May 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6515