https://www.taxtmi.com/caselaws?id=26129 A notification applying the Provident Funds Act, 1925 to a provident fund operated only from its Gazette publication date, because section 8(3) contained no express retrospective words; the exemption under section 5(1)(xviib) of the Wealth-tax Act therefore did not cover the earlier assessment years. Where the trust held the fund for identifiable employees with determinate shares, wealth-tax, if otherwise leviable, had to be assessed on a representative basis under section 21(1), not under section 21(4), which is confined to indeterminate beneficiaries or shares. en-us Fri, 31 Jan 1986 00:00:00 +0530 Wed, 03 Feb 2010 10:24:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26129 A notification applying the Provident Funds Act, 1925 to a provident fund operated only from its Gazette publication date, because section 8(3) contained no express retrospective words; the exemption under section 5(1)(xviib) of the Wealth-tax Act therefore did not cover the earlier assessment years. Where the trust held the fund for identifiable employees with determinate shares, wealth-tax, if otherwise leviable, had to be assessed on a representative basis under section 21(1), not under section 21(4), which is confined to indeterminate beneficiaries or shares. Case-Laws Wealth-tax Fri, 31 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26129