https://www.taxtmi.com/caselaws?id=16443 The court concluded that the property was not held exclusively for charitable or religious purposes, as the trust deed allowed for wide discretionary use, including social and cultural purposes. Therefore, the assessee's claim for exemption under section 5(1)(i) of the Wealth-tax Act was not valid. The judgment was in favor of the Revenue, and the assessee was ordered to pay costs of Rs. 1,000. en-us Tue, 17 Feb 1998 00:00:00 +0530 Mon, 07 Sep 2009 17:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16443 The court concluded that the property was not held exclusively for charitable or religious purposes, as the trust deed allowed for wide discretionary use, including social and cultural purposes. Therefore, the assessee's claim for exemption under section 5(1)(i) of the Wealth-tax Act was not valid. The judgment was in favor of the Revenue, and the assessee was ordered to pay costs of Rs. 1,000. Case-Laws Wealth-tax Tue, 17 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16443