https://www.taxtmi.com/caselaws?id=383816 Cash held in a proprietary business and reflected in audited books as part of regular trading funds was treated as a commercial asset, not personal cash, for wealth-tax purposes. The interpretation of section 2(ea)(vi) of the Wealth Tax Act, 1957 was confined to cash in hand that answers the statutory description of a taxable asset, and did not extend to genuine business cash maintained in the ordinary course of trade. On that basis, business cash in hand was not includible in taxable wealth, and the addition made on this account was deleted. en-us Fri, 26 Jul 2019 00:00:00 +0530 Thu, 01 Aug 2019 05:55:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383816 Cash held in a proprietary business and reflected in audited books as part of regular trading funds was treated as a commercial asset, not personal cash, for wealth-tax purposes. The interpretation of section 2(ea)(vi) of the Wealth Tax Act, 1957 was confined to cash in hand that answers the statutory description of a taxable asset, and did not extend to genuine business cash maintained in the ordinary course of trade. On that basis, business cash in hand was not includible in taxable wealth, and the addition made on this account was deleted. Case-Laws Wealth-tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383816