https://www.taxtmi.com/caselaws?id=59301 The tribunal held that the trust amount settled by the assessee for the benefit of his minor granddaughter did not attract the provisions of Section 4(1)(a)(vi) of the Wealth Tax Act, 1957. The tribunal concluded that the benefit conferred by the trust deed was deferred, as it was to be received upon marriage or upon reaching the age of 25, after attaining majority. Citing previous court decisions, the tribunal emphasized that the benefit must be deferred within the minority of the child to be considered under the Act. As a result, the appeal was allowed in favor of the assessee, directing the exclusion of the amount from the net wealth assessment. en-us Wed, 07 Sep 1988 00:00:00 +0530 Mon, 27 Dec 2010 17:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59301 The tribunal held that the trust amount settled by the assessee for the benefit of his minor granddaughter did not attract the provisions of Section 4(1)(a)(vi) of the Wealth Tax Act, 1957. The tribunal concluded that the benefit conferred by the trust deed was deferred, as it was to be received upon marriage or upon reaching the age of 25, after attaining majority. Citing previous court decisions, the tribunal emphasized that the benefit must be deferred within the minority of the child to be considered under the Act. As a result, the appeal was allowed in favor of the assessee, directing the exclusion of the amount from the net wealth assessment. Case-Laws Wealth-tax Wed, 07 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59301