https://www.taxtmi.com/caselaws?id=7156 The court held that section 21(4) of the Wealth-tax Act did not apply to the trusts as the shares of the beneficiaries were found to be determinate and known on the relevant dates. The court relied on previous decisions and emphasized that actuarial calculations could ascertain the present value of interests. Consequently, the court ruled in favor of the assessee, ordering the Commissioner to bear the costs. en-us Tue, 20 Feb 1968 00:00:00 +0530 Wed, 11 Feb 2009 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7156 The court held that section 21(4) of the Wealth-tax Act did not apply to the trusts as the shares of the beneficiaries were found to be determinate and known on the relevant dates. The court relied on previous decisions and emphasized that actuarial calculations could ascertain the present value of interests. Consequently, the court ruled in favor of the assessee, ordering the Commissioner to bear the costs. Case-Laws Wealth-tax Tue, 20 Feb 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7156