Supreme Court of India · 2003-04-16
COMMNR.OF WEALTH TAX, HYDERABAD vs TRUSTEES OF HEH
- Citation / case number
- SC 1999/11654
- Court
- Supreme Court of India
- Petitioner
- COMMNR.OF WEALTH TAX, HYDERABAD
- Respondent
- TRUSTEES OF HEH
- Author
- ,R.C. LAHOTI,B.N. AGRAWAL,S.B. SINHA
- Bench
- CJI.,R.C. LAHOTI,B.N. AGRAWAL,S.B. SINHA
Judgment text excerpt
The Supreme Court addressed a conflict between previous decisions regarding whether provisions for taxation, provident funds, and gratuity can be deducted from the market value of an estate for wealth tax purposes. The central issue is whether a statutory legal fiction for determining market value precludes such deductions. The court analyzed whether the principles laid down in Bharat Hari Singhania override those in the Nizam's Family Trust case.