https://www.taxtmi.com/caselaws?id=9040 The court dismissed the writ petition, ruling that the term "individual" in Section 3 of the Wealth-tax Act includes statutory corporations. The court held that Sections 4, 6, 14, and 15 do not restrict this interpretation, and the definition of "company" in Section 2(h) does not exempt corporations from wealth-tax liability. Consequently, the Corporation was deemed liable to pay wealth-tax, with each party bearing their own costs. en-us Fri, 12 Jan 1973 00:00:00 +0530 Thu, 18 Jun 2009 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9040 The court dismissed the writ petition, ruling that the term "individual" in Section 3 of the Wealth-tax Act includes statutory corporations. The court held that Sections 4, 6, 14, and 15 do not restrict this interpretation, and the definition of "company" in Section 2(h) does not exempt corporations from wealth-tax liability. Consequently, the Corporation was deemed liable to pay wealth-tax, with each party bearing their own costs. Case-Laws Wealth-tax Fri, 12 Jan 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9040