https://www.taxtmi.com/caselaws?id=71769 The Appellate Tribunal ITAT Pune allowed the appeals by the assessees, dismissing the Revenue's appeal and upholding the AAC's order regarding the allowance of deductions under section 5(1)(iv) of the Wealth Tax Act, 1975. The judgment emphasized the binding nature of the Bombay High Court's ruling, concluding that exemptions should be considered in the hands of the partners based on previous decisions. The decision aligned with the entitlement of partners to deductions in their hands, as established in the Special Bench ruling, resulting in a favorable outcome for the assessees. en-us Mon, 08 Apr 1985 00:00:00 +0530 Tue, 26 Apr 2011 18:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71769 The Appellate Tribunal ITAT Pune allowed the appeals by the assessees, dismissing the Revenue's appeal and upholding the AAC's order regarding the allowance of deductions under section 5(1)(iv) of the Wealth Tax Act, 1975. The judgment emphasized the binding nature of the Bombay High Court's ruling, concluding that exemptions should be considered in the hands of the partners based on previous decisions. The decision aligned with the entitlement of partners to deductions in their hands, as established in the Special Bench ruling, resulting in a favorable outcome for the assessees. Case-Laws Wealth-tax Mon, 08 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71769