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Wealth-tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Assets were forfeited on 8.6.1979 - forfeiture came to an end ...


Assets Forfeited from 1979 to 1992 Excluded from Assessee's Net Wealth for Tax Calculations.

September 24, 2012

Case Laws     Wealth-tax     HC

Assets were forfeited on 8.6.1979 - forfeiture came to an end only on 24.6.1992 - when the subject assets did not legally belong to the assessee during the period under consideration, the same could not have been included while computing his net wealth. - HC

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