https://www.taxtmi.com/caselaws?id=35885 A contingent interest under trust deeds is property capable of inclusion in net wealth where entitlement depends on survival to a future vesting date. The assessee had no immediate right to the corpus until that uncertain event occurred, so the interest fell within contingent interest under the Transfer of Property Act and remained taxable under the Wealth-tax Act. The exclusion for interests not available for more than six years from vesting applies only when the record affirmatively shows that beneficial enjoyment is postponed beyond that period; a mere possibility of non-survival is insufficient. The trust interests therefore remained includible in net wealth. en-us Thu, 27 Mar 1980 00:00:00 +0530 Wed, 17 Mar 2010 15:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35885 A contingent interest under trust deeds is property capable of inclusion in net wealth where entitlement depends on survival to a future vesting date. The assessee had no immediate right to the corpus until that uncertain event occurred, so the interest fell within contingent interest under the Transfer of Property Act and remained taxable under the Wealth-tax Act. The exclusion for interests not available for more than six years from vesting applies only when the record affirmatively shows that beneficial enjoyment is postponed beyond that period; a mere possibility of non-survival is insufficient. The trust interests therefore remained includible in net wealth. Case-Laws Wealth-tax Thu, 27 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35885