https://www.taxtmi.com/caselaws?id=39492 The court held that the shares of the beneficiaries in the trust assets were indeterminate and unknown, except for the minimum annual payments. Therefore, the Wealth-tax Officer could not assess the entire trust assets in the hands of the assessee under section 21(2). The capitalized value of the minimum amounts payable to the assessee should be included in his net wealth. The court ruled in favor of the assessee and awarded costs to the respondent-assessee. en-us Mon, 01 Oct 1973 00:00:00 +0530 Fri, 16 Apr 2010 17:07:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39492 The court held that the shares of the beneficiaries in the trust assets were indeterminate and unknown, except for the minimum annual payments. Therefore, the Wealth-tax Officer could not assess the entire trust assets in the hands of the assessee under section 21(2). The capitalized value of the minimum amounts payable to the assessee should be included in his net wealth. The court ruled in favor of the assessee and awarded costs to the respondent-assessee. Case-Laws Wealth-tax Mon, 01 Oct 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39492