https://www.taxtmi.com/caselaws?id=26067 The court ruled in favor of the assessee-trust, affirming its entitlement to the exemption under section 5(1)(xxiii) of the Wealth-tax Act 1957 for holding shares of Indian companies. The court considered trustees as constituting an assessable unit under the Act, interpreting the term "individual" to include trustees based on relevant provisions and precedents. The decision aligned with past judgments and principles, concluding that the exemption applied to the trust. No costs were awarded, and the order was to be forwarded to the Tribunal as per statutory provisions. en-us Fri, 04 Apr 1986 00:00:00 +0530 Tue, 02 Feb 2010 15:37:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26067 The court ruled in favor of the assessee-trust, affirming its entitlement to the exemption under section 5(1)(xxiii) of the Wealth-tax Act 1957 for holding shares of Indian companies. The court considered trustees as constituting an assessable unit under the Act, interpreting the term "individual" to include trustees based on relevant provisions and precedents. The decision aligned with past judgments and principles, concluding that the exemption applied to the trust. No costs were awarded, and the order was to be forwarded to the Tribunal as per statutory provisions. Case-Laws Wealth-tax Fri, 04 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26067