Section 3

Sec. 2(m), Section 3, Wealth Tax Act

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the gift of Rs. 10,30,000 made by the Karta of the assessee-HUF out of the HUF’s funds by delivery of the amount to the donee was void ab initio and the said amount continues to be an asset belonging to the assessee HUF and the same is includible, while computing the net wealth of the assessee-HUF, for wealth-tax purposes ?

High Court Of Madhya Pradesh : Indore Bench K.P. Gupta (HUF) vs. CIT Sections WT 2(m), WT 3 Asst. Years

Sec. 2(e), Sec. 2(m), Section 20, Section 3, Section 4, Wealth Tax Act

Karnataka H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the partition is deemed to have taken place under Explanation I to s. 6 of the Hindu Succession Act and the half share of the deceased which has devolved on the heirs cannot be included in the net wealth of the HUF ?

High Court Of Karnataka Commissioner Of Wealth Tax vs. N.A. Mayanna By LRs Sections WT 3, WT 4, WT 20,

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