https://www.taxtmi.com/caselaws?id=19650 Wealth-tax inclusion depends on the assessee owning the asset on the valuation date. Where an executor still retained the amount and had not paid it over to the trust, and the Revenue failed to show that the trust had acquired ownership on or before that date, the amount could not be treated as part of the trust's taxable wealth. The Rajasthan High Court therefore held that the sum was not includible in the trust's wealth-tax assessment and answered the issue in favour of the assessee. en-us Fri, 04 Mar 1994 00:00:00 +0530 Sat, 07 Nov 2009 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19650 Wealth-tax inclusion depends on the assessee owning the asset on the valuation date. Where an executor still retained the amount and had not paid it over to the trust, and the Revenue failed to show that the trust had acquired ownership on or before that date, the amount could not be treated as part of the trust's taxable wealth. The Rajasthan High Court therefore held that the sum was not includible in the trust's wealth-tax assessment and answered the issue in favour of the assessee. Case-Laws Wealth-tax Fri, 04 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19650