https://www.taxtmi.com/caselaws?id=38829 The court ruled in favor of the assessee, directing assessment under section 21(1) of the Wealth-tax Act, 1957 for both life interests and remaindermen's interests specified in the trust deed. The judgment emphasized that the interests of beneficiaries were determinate on valuation dates, necessitating assessment under section 21(1) despite the uncertainty surrounding the remaindermen's right to receive the trust corpus in the future. The court's decision was supported by a concurring opinion by another judge, S. K. DESAI, who agreed with the assessment under section 21(1) for both types of interests. en-us Thu, 13 Nov 1975 00:00:00 +0530 Fri, 09 Apr 2010 12:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38829 The court ruled in favor of the assessee, directing assessment under section 21(1) of the Wealth-tax Act, 1957 for both life interests and remaindermen's interests specified in the trust deed. The judgment emphasized that the interests of beneficiaries were determinate on valuation dates, necessitating assessment under section 21(1) despite the uncertainty surrounding the remaindermen's right to receive the trust corpus in the future. The court's decision was supported by a concurring opinion by another judge, S. K. DESAI, who agreed with the assessment under section 21(1) for both types of interests. Case-Laws Wealth-tax Thu, 13 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38829