https://www.taxtmi.com/caselaws?id=6739 Wakf assets were held not to escape wealth-tax merely because they are notionally vested in the Almighty. The Court treated that conception as insufficient to take the property outside the charging provision, and read the exemption in section 5(1)(i) as unavailable. It also held that, although "individual" in section 3 refers to a human being, section 21(1) creates a statutory fiction enabling the mutawalli, as manager of property held for another, to be assessed in the same manner and to the same extent as the beneficiary. The later 1964 amendment was viewed as clarificatory. en-us Mon, 26 Jul 1965 00:00:00 +0530 Sun, 01 Feb 2009 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6739 Wakf assets were held not to escape wealth-tax merely because they are notionally vested in the Almighty. The Court treated that conception as insufficient to take the property outside the charging provision, and read the exemption in section 5(1)(i) as unavailable. It also held that, although "individual" in section 3 refers to a human being, section 21(1) creates a statutory fiction enabling the mutawalli, as manager of property held for another, to be assessed in the same manner and to the same extent as the beneficiary. The later 1964 amendment was viewed as clarificatory. Case-Laws Wealth-tax Mon, 26 Jul 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6739