Wealth tax assessment - Wedding Gifts Trust - Once the Deed has ...

Case Laws Wealth-tax

February 2, 2015

Wealth tax assessment - Wedding Gifts Trust - Once the Deed has stipulated that on the death of the two women, their children would become the beneficiaries, the occasion to invoke Section 21 (4) of the Act does not arise. - HC

View Source

← Previous Next →

Wealth tax assessment - Wedding Gifts Trust - Once the Deed has ...

Case Laws Wealth-tax

February 2, 2015

You may also like:

Assessment of trust - assessment u/s 21(1) or u/s 21(4) of the wealth tax act - shares of the beneficiaries of the trust were known and determinate - hence the...

Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

Cancellation of registration u/s 12AB(4) denied - trust's investments in mutual funds from accumulations and corpus donations, not borrowed funds - trust deed clause...

The Income Tax Appellate Tribunal observed that the amendments made to the Trust deed were minor and did not affect the substance or spirit of the original deed. The...

Tax liability of trust - the purpose of tax under the Act, the Assessing Officer may be in a position to find out the status of the beneficiaries of the First Level...

Income Tax: Section 47(iii) of the Income Tax Act, which exempts transfers of capital assets under gift, will or irrevocable trust from capital gains tax, is proposed to...

LTCG - fair market value as on 1.4.1981 - The reasonable approach would have been to adopt the valuation in the Wealth Tax Assessment, since the Tribunal holds that the...

Cancellation of registration u/s. 12AA(3) - amendment in trust deed - Proof of change of object charitable - CIT(E) can cancel the registration only in situations,...

This case deals with the tax liability u/s 115BBC(1) for anonymous donations received in the "Hundi" by a charitable and religious trust. The key points are: The...

Addition of gifts u/s. 68 - genuineness of the gifts - unable to produce the donor - The document produced by the assessee that is bank statement, ITR, Gift deed, bank...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

Recognition of TRUST - As can be seen from the definitions, the Trust created in terms of the deed of settlement is consistent with the requirements of both, the Indian...

Initiation of CIRP - The petitioner has absolute rights in the mortgaged property and cannot initiate any action under section 7 upon non-payment of dues under the...

Dissolution clause in Trust deed – Exemption u/s 80G - For the purpose of the exemption certificate under section 80G(5) there need not be any dissolution clause in the...

Quick Updates: