https://www.taxtmi.com/caselaws?id=25816 The court ruled in favor of the petitioner, an association promoting cricket, in a case challenging the legality of notices issued under the Wealth-tax Act for assessment years 1973-74 to 1980-81. The court held that wealth-tax is not payable on properties held under trust for charitable purposes as per section 5(1)(i) of the Act. Additionally, the court determined that the association could not be considered an assessee under section 3 of the Wealth-tax Act. The judge found that issuing notices based solely on an audit report was illegal, leading to the ruling in favor of the petitioner without awarding costs to either party. en-us Mon, 28 Jul 1986 00:00:00 +0530 Mon, 01 Feb 2010 11:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25816 The court ruled in favor of the petitioner, an association promoting cricket, in a case challenging the legality of notices issued under the Wealth-tax Act for assessment years 1973-74 to 1980-81. The court held that wealth-tax is not payable on properties held under trust for charitable purposes as per section 5(1)(i) of the Act. Additionally, the court determined that the association could not be considered an assessee under section 3 of the Wealth-tax Act. The judge found that issuing notices based solely on an audit report was illegal, leading to the ruling in favor of the petitioner without awarding costs to either party. Case-Laws Wealth-tax Mon, 28 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25816