THE TRUSTEES OF GORDHANDAS GOVINDRAM FAMILYTRUST, BOMBAY vs THE C.I.T. BOMBAY

The Supreme Court held that under the Wealth Tax Act, 1957, trustees can be charged as individuals for wealth tax purposes, as Section 3 includes individuals within its scope. The Court clarified that the trust in question was a private trust, primarily benefiting the family of Gordhandas Govindram Seksaria, and therefore did not qualify as a charitable trust under Section 5(1)(i). The High Court's ruling that the trustees constitute an assessable unit was upheld, confirming the applicability of the Wealth Tax Act to the trustees.