https://www.taxtmi.com/caselaws?id=16671 The Full Bench upheld the Tribunal's decision that the right to wear jewellery on ceremonial occasions and the interest in the shares fund did not constitute assets under the Wealth-tax Act. It was concluded that subsequent assessments under section 21(1) after direct assessment on the beneficiary were not valid, and assessments under section 21(1) were considered double assessments. The case was disposed of with no costs awarded. en-us Fri, 07 Aug 1998 00:00:00 +0530 Wed, 09 Sep 2009 12:46:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16671 The Full Bench upheld the Tribunal's decision that the right to wear jewellery on ceremonial occasions and the interest in the shares fund did not constitute assets under the Wealth-tax Act. It was concluded that subsequent assessments under section 21(1) after direct assessment on the beneficiary were not valid, and assessments under section 21(1) were considered double assessments. The case was disposed of with no costs awarded. Case-Laws Wealth-tax Fri, 07 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16671