https://www.taxtmi.com/caselaws?id=9577 The High Court held that the assets of the Tenzing Family Trust should not be included in the net wealth of the assessee-beneficiary but should be considered in the hands of the Trust. The court emphasized that until the beneficiary acquired vested rights as per the trust deed, the assets should not be attributed to the beneficiary's wealth. The decision aligned with previous rulings, affirming that the trust's assets were distinct from the beneficiary's personal wealth. en-us Tue, 28 Feb 2006 00:00:00 +0530 Sat, 27 Jun 2009 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9577 The High Court held that the assets of the Tenzing Family Trust should not be included in the net wealth of the assessee-beneficiary but should be considered in the hands of the Trust. The court emphasized that until the beneficiary acquired vested rights as per the trust deed, the assets should not be attributed to the beneficiary's wealth. The decision aligned with previous rulings, affirming that the trust's assets were distinct from the beneficiary's personal wealth. Case-Laws Wealth-tax Tue, 28 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9577