https://www.taxtmi.com/caselaws?id=8386 A leasehold right in a mica mine with the right to win mica was treated as an asset of wide amplitude under the Wealth-tax Act, and the leasehold interest was not excluded under section 2(e)(v) because the relevant valuation date controlled the enquiry and later curtailment of the lease could not operate retrospectively. The Tribunal's valuation of the mica mines was upheld as a factual finding supported by the record, and a different valuation in estate duty proceedings did not displace it. Assets transferred by an individual to minor sons, including a rice mill and house property, were includible in net wealth under section 4(1)(a) as transfers to minor children otherwise than for adequate consideration. en-us Tue, 29 Dec 1970 00:00:00 +0530 Fri, 10 Apr 2009 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8386 A leasehold right in a mica mine with the right to win mica was treated as an asset of wide amplitude under the Wealth-tax Act, and the leasehold interest was not excluded under section 2(e)(v) because the relevant valuation date controlled the enquiry and later curtailment of the lease could not operate retrospectively. The Tribunal's valuation of the mica mines was upheld as a factual finding supported by the record, and a different valuation in estate duty proceedings did not displace it. Assets transferred by an individual to minor sons, including a rice mill and house property, were includible in net wealth under section 4(1)(a) as transfers to minor children otherwise than for adequate consideration. Case-Laws Wealth-tax Tue, 29 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8386