https://www.taxtmi.com/caselaws?id=13143 A covenant vesting legal title in the dynasty, rather than in a single heir, means the property does not retain the character of an impartible estate after the Hindu Succession Act, 1956. On that footing, the deeming fiction under section 4(6) of the Wealth-tax Act, 1957 cannot treat the assessee as the holder of the estate. The discussion treats the earlier income-tax reasoning as comparable, but the decisive point is the covenantal mode of devolution and the statutory effect of section 4 of the Hindu Succession Act. en-us Wed, 05 Sep 2001 00:00:00 +0530 Tue, 26 May 2009 16:24:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13143 A covenant vesting legal title in the dynasty, rather than in a single heir, means the property does not retain the character of an impartible estate after the Hindu Succession Act, 1956. On that footing, the deeming fiction under section 4(6) of the Wealth-tax Act, 1957 cannot treat the assessee as the holder of the estate. The discussion treats the earlier income-tax reasoning as comparable, but the decisive point is the covenantal mode of devolution and the statutory effect of section 4 of the Hindu Succession Act. Case-Laws Income Tax Wed, 05 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13143