TaxTMI 
TaxTMI 
1985 (7) TMI 5
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....d by the applicant, viz., Commissioner of Wealth-tax, under section 27(3) of the Wealth-tax Act, 1957, with a prayer to call upon the Tribunal to send the statement of the case in connection with the following questions of law: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal is justified in deciding that the wealth-tax assessment in the case of the assessee is to be ....
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....dent-assessee filed its return of wealth for the assessment year on June 26, 1971, the accounting period for which ended on Diwali, 1970. The assessee claimed that no assessment can be made in its case. The Wealth-tax Officer, however, completed the assessment on a net wealth of Rs. 4,27,720 on February 22, 1979. Wealth-tax assessments were also made on the beneficiaries of the trust. Shri Nandik....
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....aking the assessments directly on the beneficiaries and thus he could not make the assessment on the trustees. The trust was created by a deed dated May 28, 1959. It was not noticed by the departmental authorities that the shares of the beneficiaries were not specified in the trust deed. In the income-tax case, the contention of the assessee was that the trust had passed a resolution on December ....