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Wealth-tax - Highlights / Catch Notes

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Wealth tax assessment - ownership of the Gold in possession of ...


High Court Rules Seized Gold Should Not Be Included in Wealth Tax Assessment Due to Confiscation Status.

May 6, 2021

Case Laws     Wealth-tax     HC

Wealth tax assessment - ownership of the Gold in possession of the assessee - Limited power to deal with the Gold - Legal heirs - the Tribunal ought not to have included any consideration for the seized gold for computation of wealth tax assessment on the respective valuation dates as the gold still stands seized and not released. - HC

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