https://www.taxtmi.com/caselaws?id=14020 The Court held that the Tribunal erred in applying the Income-tax Act's provisions to the Wealth-tax Act, emphasizing the distinct tax rate application under each statute. It directed the Tribunal to apply the special wealth-tax rate under section 21(4) as assessed by the Wealth-tax Officer for the trust entity. The Court instructed a reconsideration of the appeal, addressing specific concerns raised by the assessee in subsequent proceedings. The reference was disposed of without costs. en-us Tue, 04 May 1999 00:00:00 +0530 Tue, 07 Jul 2009 16:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14020 The Court held that the Tribunal erred in applying the Income-tax Act's provisions to the Wealth-tax Act, emphasizing the distinct tax rate application under each statute. It directed the Tribunal to apply the special wealth-tax rate under section 21(4) as assessed by the Wealth-tax Officer for the trust entity. The Court instructed a reconsideration of the appeal, addressing specific concerns raised by the assessee in subsequent proceedings. The reference was disposed of without costs. Case-Laws Wealth-tax Tue, 04 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14020