https://www.taxtmi.com/caselaws?id=15608 Amounts transferred to the trusts were excluded from the assessee's net wealth because the trusts had already been construed on their terms as irrevocable. That characterisation, reached in earlier income-tax proceedings, was treated as equally applicable under the Wealth-tax Act. Once the trusts were held irrevocable, the deeming provision for inclusion of transferred assets as revocable transfers under section 4(1)(a)(iv) could not apply. The referred question was answered in favour of the assessee and against the Revenue. en-us Wed, 05 Nov 1997 00:00:00 +0530 Wed, 26 Aug 2009 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15608 Amounts transferred to the trusts were excluded from the assessee's net wealth because the trusts had already been construed on their terms as irrevocable. That characterisation, reached in earlier income-tax proceedings, was treated as equally applicable under the Wealth-tax Act. Once the trusts were held irrevocable, the deeming provision for inclusion of transferred assets as revocable transfers under section 4(1)(a)(iv) could not apply. The referred question was answered in favour of the assessee and against the Revenue. Case-Laws Wealth-tax Wed, 05 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15608