https://www.taxtmi.com/caselaws?id=12466 The High Court affirmed that only "individuals," "Hindu undivided families," and "companies" are recognized entities for assessment under the Wealth-tax Act. Trusts were not considered assessable entities, and assessments could only be made as representatives of beneficiaries under specific provisions. The court emphasized the importance of clear legislative intent in determining taxable entities and rejected an application to refer questions of law, stating that trusts, as non-assessable entities, must align with specific provisions to be subject to wealth-tax assessment. en-us Sat, 15 Sep 2001 00:00:00 +0530 Thu, 25 Feb 2010 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12466 The High Court affirmed that only "individuals," "Hindu undivided families," and "companies" are recognized entities for assessment under the Wealth-tax Act. Trusts were not considered assessable entities, and assessments could only be made as representatives of beneficiaries under specific provisions. The court emphasized the importance of clear legislative intent in determining taxable entities and rejected an application to refer questions of law, stating that trusts, as non-assessable entities, must align with specific provisions to be subject to wealth-tax assessment. Case-Laws Wealth-tax Sat, 15 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12466