https://www.taxtmi.com/caselaws?id=27003 The High Court of Rajasthan ruled in favor of the assessee, determining that assets transferred to the wife and minor sons post-partition of jagir bonds sale proceeds were not to be included in the assessee's wealth under section 4(1)(a) of the Wealth-tax Act. The court emphasized the impartible nature of the estate and the legal fiction under section 4(6) of the Act, concluding that the assets had become separate property of the family members and could not be retroactively included in the assessee's wealth. This decision clarified the treatment of impartible estate and the application of legal fiction under the Act. en-us Tue, 10 Jan 1984 00:00:00 +0530 Wed, 10 Feb 2010 11:07:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27003 The High Court of Rajasthan ruled in favor of the assessee, determining that assets transferred to the wife and minor sons post-partition of jagir bonds sale proceeds were not to be included in the assessee's wealth under section 4(1)(a) of the Wealth-tax Act. The court emphasized the impartible nature of the estate and the legal fiction under section 4(6) of the Act, concluding that the assets had become separate property of the family members and could not be retroactively included in the assessee's wealth. This decision clarified the treatment of impartible estate and the application of legal fiction under the Act. Case-Laws Wealth-tax Tue, 10 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27003