https://www.taxtmi.com/caselaws?id=36649 The Appellate Tribunal held that bonus shares issued to a minor daughter could not be considered assets transferred by the assessee under the Wealth Tax Act. The shares were allotted by the company based on the original shareholding and were not directly or indirectly transferred by the assessee. Therefore, the bonus shares gifted to the minor daughter were excluded in computing the net wealth of the assessee, aligning with the interpretation of section 4(1)(a)(ii) of the Act. en-us Tue, 16 Oct 1979 00:00:00 +0530 Tue, 23 Mar 2010 16:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36649 The Appellate Tribunal held that bonus shares issued to a minor daughter could not be considered assets transferred by the assessee under the Wealth Tax Act. The shares were allotted by the company based on the original shareholding and were not directly or indirectly transferred by the assessee. Therefore, the bonus shares gifted to the minor daughter were excluded in computing the net wealth of the assessee, aligning with the interpretation of section 4(1)(a)(ii) of the Act. Case-Laws Wealth-tax Tue, 16 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36649