https://www.taxtmi.com/caselaws?id=64680 The Tribunal upheld the exemption of shares and assets from wealth tax assessment for a charitable trust under s. 5(1)(i) of the WT Act 1957. The shares of Motor General Finance Ltd. and Goodwill India Ltd. were considered exempt as corpus and bonus shares, following a previous Tribunal order. The interpretation of provisions of s. 21-A of WT Act with s. 13(2)(h) of the IT Act was crucial, with the Tribunal ruling in favor of the assessee based on the nature of the shares. The Revenue's appeal was dismissed, emphasizing the importance of the shares' origin and purpose for taxability in charitable trusts. en-us Tue, 17 Dec 1985 00:00:00 +0530 Wed, 09 Feb 2011 12:39:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64680 The Tribunal upheld the exemption of shares and assets from wealth tax assessment for a charitable trust under s. 5(1)(i) of the WT Act 1957. The shares of Motor General Finance Ltd. and Goodwill India Ltd. were considered exempt as corpus and bonus shares, following a previous Tribunal order. The interpretation of provisions of s. 21-A of WT Act with s. 13(2)(h) of the IT Act was crucial, with the Tribunal ruling in favor of the assessee based on the nature of the shares. The Revenue's appeal was dismissed, emphasizing the importance of the shares' origin and purpose for taxability in charitable trusts. Case-Laws Wealth-tax Tue, 17 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64680