1994 (3) TMI 23 - HC - Wealth-tax

Summary

The High Court of Rajasthan ruled in favor of the assessee, stating that the amount of Rs. 3,50,000 could not be included in the assessment of the trust for the years under consideration. The Income-tax Appellate Tribunal was justified in its decision. The reference was answered in favor of the assessee with no order as to costs.