https://www.taxtmi.com/caselaws?id=65999 The trust was denied exemption under section 5(1)(i) of the Wealth-tax Act due to investments in a business concern with interested trustees. The trust's exemption was also denied under section 5(1)(xxiii) for certain shares. However, by treating the trust as an individual under section 21A, exemption under section 5(1)(xxiii) was granted. The tribunal partially allowed the appeals, holding the trust liable for wealth-tax but eligible for exemption under section 5(1)(xxiii) as an individual. en-us Thu, 29 Nov 1984 00:00:00 +0530 Sat, 19 Feb 2011 17:28:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65999 The trust was denied exemption under section 5(1)(i) of the Wealth-tax Act due to investments in a business concern with interested trustees. The trust's exemption was also denied under section 5(1)(xxiii) for certain shares. However, by treating the trust as an individual under section 21A, exemption under section 5(1)(xxiii) was granted. The tribunal partially allowed the appeals, holding the trust liable for wealth-tax but eligible for exemption under section 5(1)(xxiii) as an individual. Case-Laws Wealth-tax Thu, 29 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65999