https://www.taxtmi.com/caselaws?id=18485 The Supreme Court declined to definitively determine whether the beneficiary interest in trusts belonged to the Hindu undivided family or the individual assessees. Instead, it allowed the Department to seek rectification under section 35 of the Wealth-tax Act and permitted the assessees to present a declaration for consideration. The Tribunal retained discretion, and parties were given the option to refer appropriate questions in the future. The judgment disposed of the reference applications, allowed rectification applications, and left room for further references if needed, emphasizing fairness and issuing specific instructions for record-keeping and dissemination of the order copies. en-us Wed, 10 Jan 1996 00:00:00 +0530 Thu, 01 Oct 2009 12:31:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18485 The Supreme Court declined to definitively determine whether the beneficiary interest in trusts belonged to the Hindu undivided family or the individual assessees. Instead, it allowed the Department to seek rectification under section 35 of the Wealth-tax Act and permitted the assessees to present a declaration for consideration. The Tribunal retained discretion, and parties were given the option to refer appropriate questions in the future. The judgment disposed of the reference applications, allowed rectification applications, and left room for further references if needed, emphasizing fairness and issuing specific instructions for record-keeping and dissemination of the order copies. Case-Laws Wealth-tax Wed, 10 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18485