https://www.taxtmi.com/caselaws?id=57925 The appeals filed by the revenue for the assessment years 1968-69 to 1972-73 were dismissed, confirming that the same wealth could not be taxed in the hands of both trustees and beneficiaries. However, for the assessment years 1973-74 and 1974-75, the appeals were partly allowed, adjusting the valuation of the assessee's life interest in the trusts to be done actuarially as per rule 1B without deductions for bad debts. en-us Wed, 24 Mar 1982 00:00:00 +0530 Wed, 15 Dec 2010 14:04:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57925 The appeals filed by the revenue for the assessment years 1968-69 to 1972-73 were dismissed, confirming that the same wealth could not be taxed in the hands of both trustees and beneficiaries. However, for the assessment years 1973-74 and 1974-75, the appeals were partly allowed, adjusting the valuation of the assessee's life interest in the trusts to be done actuarially as per rule 1B without deductions for bad debts. Case-Laws Wealth-tax Wed, 24 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57925