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[Cites 0, Cited by 0] [Section 21(4)] [Section 21] [Entire Act]

Union of India - Subsection

Section 21(4)(ii) in The Wealth-Tax Act, 1957

(ii)[ such assets are held under a trust created before the 1st day of March, 1970, by a non-testamentary instrument and the ] [Substituted by Act 19 of 1970, Section 26, for sub-Section (4)(w.e.f. 1.4.1971). ][Assessing Officer] [ Substituted by Act 4 of 1988, Section 127, for " Wealth-tax Officer" (w.e.f. 1.4.1988).][is satisfied, having regard to all the circumstances existing at the relevant time, that the trust was created bona fide exclusively for the benefit of the relatives of the settlor or where the settlor is a Hindu undivided family, exclusively for the benefit of the members of such family, in circumstances where such relatives or members were mainly dependent on the settlor for their support and maintenance; or [Substituted by Act 19 of 1970, Section 26, for sub-Section (4)(w.e.f. 1.4.1971). ]