1986 (9) TMI 48 - HC - Wealth-tax

Summary

The High Court of Rajasthan upheld the decision of the Income-tax Appellate Tribunal regarding indirect transfers of gifts to minor children and a husband, ruling in favor of the Revenue. The Tribunal found the transfers to be interrelated and included them in the net wealth under the Wealth-tax Act, 1957. The judgment was delivered by N. M. Kasliwal J. and Farooq Hasan.