https://www.taxtmi.com/caselaws?id=11118 The court held in favor of the assessee-trust, allowing it to claim exemption under section 5(1)(xxiii) of the Wealth-tax Act, 1957. The judgment clarified that trustees can be treated as individuals for wealth-tax purposes and are entitled to the exemption. Additionally, the trust was classified as a specific trust, making it eligible for the exemption. The court's decision aligned with previous rulings and emphasized that trusts can benefit from exemptions available to individuals and Hindu undivided families under the Act. en-us Thu, 15 Jan 2004 00:00:00 +0530 Fri, 31 Jul 2009 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11118 The court held in favor of the assessee-trust, allowing it to claim exemption under section 5(1)(xxiii) of the Wealth-tax Act, 1957. The judgment clarified that trustees can be treated as individuals for wealth-tax purposes and are entitled to the exemption. Additionally, the trust was classified as a specific trust, making it eligible for the exemption. The court's decision aligned with previous rulings and emphasized that trusts can benefit from exemptions available to individuals and Hindu undivided families under the Act. Case-Laws Wealth-tax Thu, 15 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11118