https://www.taxtmi.com/caselaws?id=6928 The court determined that the assessment of trustees under the Wealth-tax Act should be made under section 21(1) as the shares of the beneficiaries were deemed determinate and known on relevant valuation dates. Consequently, the assessment under section 21(4) was rejected. The court found the second issue regarding the calculation of asset values moot in light of the first determination. The Commissioner was directed to bear the costs of the assessees. en-us Tue, 07 Feb 1967 00:00:00 +0530 Sat, 07 Feb 2009 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6928 The court determined that the assessment of trustees under the Wealth-tax Act should be made under section 21(1) as the shares of the beneficiaries were deemed determinate and known on relevant valuation dates. Consequently, the assessment under section 21(4) was rejected. The court found the second issue regarding the calculation of asset values moot in light of the first determination. The Commissioner was directed to bear the costs of the assessees. Case-Laws Wealth-tax Tue, 07 Feb 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6928