https://www.taxtmi.com/caselaws?id=19380 The court affirmed the decision of the Income-tax Appellate Tribunal, holding that the State Bank of India, acting as executors and trustees of two trusts, was entitled to exemption under section 5(1)(i) of the Wealth-tax Act for the assets held in trust for public charitable or religious purposes. The court emphasized that the conditions for exemption under the Wealth-tax Act are distinct from those under the Income-tax Act. The Tribunal's finding that the trusts met the requirements of section 5(1)(i) was undisputed, leading to the conclusion that the trusts were exempt from wealth-tax assessment. en-us Wed, 07 Dec 1994 00:00:00 +0530 Thu, 05 Nov 2009 17:39:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19380 The court affirmed the decision of the Income-tax Appellate Tribunal, holding that the State Bank of India, acting as executors and trustees of two trusts, was entitled to exemption under section 5(1)(i) of the Wealth-tax Act for the assets held in trust for public charitable or religious purposes. The court emphasized that the conditions for exemption under the Wealth-tax Act are distinct from those under the Income-tax Act. The Tribunal's finding that the trusts met the requirements of section 5(1)(i) was undisputed, leading to the conclusion that the trusts were exempt from wealth-tax assessment. Case-Laws Wealth-tax Wed, 07 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19380