https://www.taxtmi.com/caselaws?id=33938 Property received from a spouse was considered for exclusion from taxable wealth under Section 4(1)(a)(i) of the Wealth Tax Act, where the central question was whether the transfer was a genuine gift without adequate consideration. The materials indicated that the gift plea had been accepted for one assessment year, but not for the later years in issue. The matter was remitted for reconsideration for assessment years 1998-1999 and 1999-2000, with directions to hear the petitioner and verify whether the property was in fact gifted by her husband before deciding the exemption claim afresh. en-us Sat, 23 May 2009 00:00:00 +0530 Fri, 26 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33938 Property received from a spouse was considered for exclusion from taxable wealth under Section 4(1)(a)(i) of the Wealth Tax Act, where the central question was whether the transfer was a genuine gift without adequate consideration. The materials indicated that the gift plea had been accepted for one assessment year, but not for the later years in issue. The matter was remitted for reconsideration for assessment years 1998-1999 and 1999-2000, with directions to hear the petitioner and verify whether the property was in fact gifted by her husband before deciding the exemption claim afresh. Case-Laws Wealth-tax Sat, 23 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33938