https://www.taxtmi.com/caselaws?id=25716 Amounts paid by an executor to a residuary legatee before completion of estate administration are not excluded from the net wealth assessable in the executor's hands. Under section 19A of the Wealth-tax Act, only assets distributed to, or applied for the benefit of, a specific legatee fall outside the estate; a residuary legatee has no right, title or interest in any particular asset until the residue is ascertained and administration is complete. Such interim payments are treated as payments on account, and maintenance expenditure does not convert them into assets held under an independent title. en-us Tue, 27 Jan 1987 00:00:00 +0530 Sat, 30 Jan 2010 13:38:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25716 Amounts paid by an executor to a residuary legatee before completion of estate administration are not excluded from the net wealth assessable in the executor's hands. Under section 19A of the Wealth-tax Act, only assets distributed to, or applied for the benefit of, a specific legatee fall outside the estate; a residuary legatee has no right, title or interest in any particular asset until the residue is ascertained and administration is complete. Such interim payments are treated as payments on account, and maintenance expenditure does not convert them into assets held under an independent title. Case-Laws Wealth-tax Tue, 27 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25716