https://www.taxtmi.com/caselaws?id=5544 Exemption under section 5(1)(i) of the Wealth-tax Act applies only where property is held under trust or other legal obligation for a public purpose of a charitable or religious nature in India. On the facts discussed, the Hyderabad Race Club's claimed charitable character had already been negatived by the Full Bench of the High Court, and that challenge had not succeeded. In that background, the claimed exemption could not be accepted, and the net wealth was not exempt from wealth-tax. en-us Wed, 11 Dec 1996 00:00:00 +0530 Wed, 26 Nov 2008 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5544 Exemption under section 5(1)(i) of the Wealth-tax Act applies only where property is held under trust or other legal obligation for a public purpose of a charitable or religious nature in India. On the facts discussed, the Hyderabad Race Club's claimed charitable character had already been negatived by the Full Bench of the High Court, and that challenge had not succeeded. In that background, the claimed exemption could not be accepted, and the net wealth was not exempt from wealth-tax. Case-Laws Wealth-tax Wed, 11 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5544