https://www.taxtmi.com/caselaws?id=9392 The court held in favor of the Revenue and against the assessee, ruling that the value of the assessee's interest in the association of persons was liable to be included in the net wealth of the assessee for wealth-tax purposes. The court clarified that an association of persons is not a legal entity for wealth-tax assessment under the Wealth-tax Act, and the interest of the assessee in the association should be valued according to Rule 2 of the Wealth-tax Rules. en-us Wed, 27 Oct 2004 00:00:00 +0530 Mon, 22 Jun 2009 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9392 The court held in favor of the Revenue and against the assessee, ruling that the value of the assessee's interest in the association of persons was liable to be included in the net wealth of the assessee for wealth-tax purposes. The court clarified that an association of persons is not a legal entity for wealth-tax assessment under the Wealth-tax Act, and the interest of the assessee in the association should be valued according to Rule 2 of the Wealth-tax Rules. Case-Laws Wealth-tax Wed, 27 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9392