1999 (9) TMI 49 - HC - Income Tax

Summary

The High Court of Madras ruled that the property dedicated to a wakf by Jalal Khalilur Rahman did not form part of his estate as he had divested himself of ownership without reserving any rights. The court held that becoming a mutavalli did not amount to reservation of benefits. The Appellate Tribunal was correct in excluding the property value from the deceased's estate.