COMMISSIONER OF WEALTH TAX vs ESTATE OF LATE HMM VIKRAMSINHJI OF GONDAL

Authority: Supreme Court Date: 2014-04-16 AY: 1970-71, 1971-72, 1972-73, 1973-74, 1974-75, 1975-76, 1976-77, 1977-78, 1978-79, 1979-80, 1981-82, 1982-83, 1983-84, 1984-85, 1985-86, 1986-87, 1987-88, 1988-89, 1989-90 Acts: Income Tax Act 1961, Wealth Tax Act 1957 Result: Assessee Citation: (2014) 268 CTR (SC) 232 : (2014) 363 ITR 679 (SC) : (2014) 103 DTR (SC) 211 : (2014) 225 TAXMAN 166 Justices: R. M. LODHA & SHIVA KIRTI SINGH, JJ. Appeal No: CIVIL APPEAL NO. 2312 OF 2007, 329 of 2009, 204, 203, 202, 201, 200, 199, 1

Whether the UK trusts created by the ex-Ruler of Gondal were discretionary trusts or specific trusts for income tax and wealth tax purposes --- Held: The UK trusts were discretionary trusts, and the income retained by trustees without disbursement to beneficiaries was not taxable in the assessee's hands.

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COMMISSIONER OF WEALTH TAX vs ESTATE OF LATE HMM VIKRAMSINHJI OF GONDAL

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