https://www.taxtmi.com/caselaws?id=8990 The court ruled that sections 4(1)(a)(i) and 4(1)(a)(ii) of the Wealth-tax Act, 1957 were not applicable as the transfer of shares was by the Hindu undivided family (HUF) and not the individual, thus excluding them from the individual's net wealth. Additionally, dividends declared but not paid were deemed assessable for wealth-tax as the individual had an indefeasible right to recover them, irrespective of physical possession. The court answered the first issue negatively and the second issue affirmatively, with each party bearing its own costs. en-us Wed, 06 Dec 1972 00:00:00 +0530 Wed, 17 Jun 2009 20:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8990 The court ruled that sections 4(1)(a)(i) and 4(1)(a)(ii) of the Wealth-tax Act, 1957 were not applicable as the transfer of shares was by the Hindu undivided family (HUF) and not the individual, thus excluding them from the individual's net wealth. Additionally, dividends declared but not paid were deemed assessable for wealth-tax as the individual had an indefeasible right to recover them, irrespective of physical possession. The court answered the first issue negatively and the second issue affirmatively, with each party bearing its own costs. Case-Laws Wealth-tax Wed, 06 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8990