https://www.taxtmi.com/caselaws?id=207046 The Karnataka High Court upheld the decisions of the Appellate Commissioner and the Tribunal, ruling in favor of the Trust. The Court held that the Trust was not liable to pay wealth tax as the property held by the Trust was for a charitable purpose, aligning with Section 5(1)(i) of the Wealth Tax Act. The court dismissed all appeals, affirming the exemption granted to the Trust under the Act. en-us Mon, 01 Aug 2011 00:00:00 +0530 Fri, 02 Dec 2011 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207046 The Karnataka High Court upheld the decisions of the Appellate Commissioner and the Tribunal, ruling in favor of the Trust. The Court held that the Trust was not liable to pay wealth tax as the property held by the Trust was for a charitable purpose, aligning with Section 5(1)(i) of the Wealth Tax Act. The court dismissed all appeals, affirming the exemption granted to the Trust under the Act. Case-Laws Wealth-tax Mon, 01 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207046