https://www.taxtmi.com/caselaws?id=24992 The court ruled in favor of the assessee, holding that she constructively held the Fixed Deposit Receipt (FDR) for the required period and was entitled to exemption under section 5(1)(xxvi) of the Wealth-tax Act. The court emphasized that the term "held" should be interpreted in the context of the provision's purpose to encourage specific investments. The Tribunal's rejection of the exemption claim was deemed legally incorrect, and costs were awarded accordingly. en-us Thu, 23 Oct 1986 00:00:00 +0530 Sat, 23 Jan 2010 16:15:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24992 The court ruled in favor of the assessee, holding that she constructively held the Fixed Deposit Receipt (FDR) for the required period and was entitled to exemption under section 5(1)(xxvi) of the Wealth-tax Act. The court emphasized that the term "held" should be interpreted in the context of the provision's purpose to encourage specific investments. The Tribunal's rejection of the exemption claim was deemed legally incorrect, and costs were awarded accordingly. Case-Laws Wealth-tax Thu, 23 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24992