Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Wealth Tax Act 1957 |
Content Type | Text |
Resource Type | Law Order |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Dismissed |
Headnote | Wealth Tax Act, 1957: s.27 (1) and 27(3)-Assessee, a beneficiary of Trust assigned to the trust his share of income received from partnership firm-The same alongwith other income distributed to assessee-Assessee assigned his interest in favour of Body of Individuals (BOIs) and claimed that it should be assessed as asset of BOIs-Claim rejected by Assessing Officer holding that creation of BOIs and assignment was a sham and bogus-Commissioner (Appeals) reversed the findings and his decision affirmed by Tribunal-High Court declined to direct the Tribunal to state and refer the question holding that decision of Tribunal was on the question of fact and no question of law arose-Held, once it is found as a fact that creation of BOIs and assignment of interest was not sham and bogus activity, the question sought to be referred would not arise and Tribunal u/s. 27(1) and High Court u/s. 27(3) were right in rejecting the application of Revenue. |
Judge | N/A |
Neutral Citation | 2002 INSC 532 |
Petitioner | Commissioner Of Wealth Tax, Gujarat |
Respondent | Lov. S. Kinariwala |
SCR | [2002] Supp. (5) S.C.R. 44 |
Judgement Date | 2002-12-11 |
Case Number | 1858 |
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