https://www.taxtmi.com/caselaws?id=20706 Estimated capital gains tax was deductible in computing wealth, following the court's earlier binding view on the point, and that question was answered against the assessee. A compulsory deposit under the Compulsory Deposit Scheme was not an annuity within section 2(e)(2)(ii) of the Wealth-tax Act, 1957, because the statutory exclusion applies only to a fixed periodic sum not commutable into a lump sum; the scheme involved repayment of deposited capital with interest and was treated as a deposit for wealth-tax purposes. The amount was therefore includible in the assessee's net wealth, and that question was also answered against the assessee. en-us Tue, 12 Mar 1991 00:00:00 +0530 Mon, 16 Nov 2009 17:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20706 Estimated capital gains tax was deductible in computing wealth, following the court's earlier binding view on the point, and that question was answered against the assessee. A compulsory deposit under the Compulsory Deposit Scheme was not an annuity within section 2(e)(2)(ii) of the Wealth-tax Act, 1957, because the statutory exclusion applies only to a fixed periodic sum not commutable into a lump sum; the scheme involved repayment of deposited capital with interest and was treated as a deposit for wealth-tax purposes. The amount was therefore includible in the assessee's net wealth, and that question was also answered against the assessee. Case-Laws Wealth-tax Tue, 12 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20706