https://www.taxtmi.com/caselaws?id=19980 The court ruled in favor of the Revenue, holding that the interest of the assessee in firms engaged in dam construction did not qualify for exemption under section 5(1)(xxxii) of the Wealth-tax Act. The court emphasized that dams do not qualify as goods or articles for tax exemption purposes, highlighting the importance of adhering to legislative language and specified criteria for exemptions. The decision underscored the specific nature of dam construction and the inability to categorize it within the scope of the exemption provision. en-us Thu, 28 Oct 1993 00:00:00 +0530 Wed, 11 Nov 2009 10:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19980 The court ruled in favor of the Revenue, holding that the interest of the assessee in firms engaged in dam construction did not qualify for exemption under section 5(1)(xxxii) of the Wealth-tax Act. The court emphasized that dams do not qualify as goods or articles for tax exemption purposes, highlighting the importance of adhering to legislative language and specified criteria for exemptions. The decision underscored the specific nature of dam construction and the inability to categorize it within the scope of the exemption provision. Case-Laws Wealth-tax Thu, 28 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19980