https://www.taxtmi.com/caselaws?id=58511 The ITAT upheld the WTO's decision to invoke section 4(1)(a)(iii) of the Wealth Tax Act regarding the creation of trusts for minor daughters, reversing the CWT(A)'s deletion of the addition. Additionally, the ITAT confirmed the rejection of the deduction of capital gains tax from the value of shares for the assessment years 1979-80 and 1980-81, based on a Bombay High Court decision, dismissing the assessee's appeals and allowing the department's appeal. en-us Thu, 23 Nov 1989 00:00:00 +0530 Mon, 20 Dec 2010 13:08:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58511 The ITAT upheld the WTO's decision to invoke section 4(1)(a)(iii) of the Wealth Tax Act regarding the creation of trusts for minor daughters, reversing the CWT(A)'s deletion of the addition. Additionally, the ITAT confirmed the rejection of the deduction of capital gains tax from the value of shares for the assessment years 1979-80 and 1980-81, based on a Bombay High Court decision, dismissing the assessee's appeals and allowing the department's appeal. Case-Laws Wealth-tax Thu, 23 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58511