https://www.taxtmi.com/caselaws?id=6619 The High Court determined that sub-section (1) of Section 21 of the Wealth-tax Act applied as the beneficiaries' shares were known and determinate on the relevant valuation date. The court held that the Wealth-tax Officer's application of sub-section (4) was incorrect. The court ruled in favor of the assessee-trusts, awarding costs to the applicants. en-us Mon, 08 Nov 1965 00:00:00 +0530 Tue, 27 Jan 2009 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6619 The High Court determined that sub-section (1) of Section 21 of the Wealth-tax Act applied as the beneficiaries' shares were known and determinate on the relevant valuation date. The court held that the Wealth-tax Officer's application of sub-section (4) was incorrect. The court ruled in favor of the assessee-trusts, awarding costs to the applicants. Case-Laws Wealth-tax Mon, 08 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6619