https://www.taxtmi.com/caselaws?id=70421 The Tribunal overturned the first appellate authority's decision and rectification orders, reinstating the exemption under section 5(1)(xxiii) of the Wealth-tax Act for an assessee-trust assessed as an A.O.P. The Tribunal held that the assessee's case fell under section 21(4) read with proviso (iii) and Explanation 2, allowing for the exemption despite the A.O.P. status. The correct interpretation of section 21(4) and the relevance of proviso (iii) and Explanation 2 were emphasized in granting the exemption to the assessee-trust. en-us Wed, 12 Jun 1991 00:00:00 +0530 Sat, 16 Apr 2011 10:41:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70421 The Tribunal overturned the first appellate authority's decision and rectification orders, reinstating the exemption under section 5(1)(xxiii) of the Wealth-tax Act for an assessee-trust assessed as an A.O.P. The Tribunal held that the assessee's case fell under section 21(4) read with proviso (iii) and Explanation 2, allowing for the exemption despite the A.O.P. status. The correct interpretation of section 21(4) and the relevance of proviso (iii) and Explanation 2 were emphasized in granting the exemption to the assessee-trust. Case-Laws Wealth-tax Wed, 12 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70421