https://www.taxtmi.com/caselaws?id=25651 The High Court of Rajasthan ruled in favor of the assessee, determining that the annuity of Rs. 1,000 per month should be excluded from the net wealth calculation. The court found that the annuity, payable from trust income and not commutable, did not constitute a property asset under the Wealth-tax Act. As a result, the court rejected the Revenue's argument, concluding that the annuity should not be considered in the assessment, leading to a favorable outcome for the assessee and against the Revenue. en-us Mon, 29 Sep 1986 00:00:00 +0530 Sat, 30 Jan 2010 10:24:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25651 The High Court of Rajasthan ruled in favor of the assessee, determining that the annuity of Rs. 1,000 per month should be excluded from the net wealth calculation. The court found that the annuity, payable from trust income and not commutable, did not constitute a property asset under the Wealth-tax Act. As a result, the court rejected the Revenue's argument, concluding that the annuity should not be considered in the assessment, leading to a favorable outcome for the assessee and against the Revenue. Case-Laws Wealth-tax Mon, 29 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25651