https://www.taxtmi.com/caselaws?id=36373 The Appellate Tribunal ruled in favor of the minor assessee in a wealth tax case, holding that she was entitled to claim the full exemption of her share in fixed deposits under section 5(1)(xxvi) of the Wealth-tax Act, 1957 for the assessment year 1973-74. The Tribunal emphasized that the Wealth Tax Officer's application of Rule 2 was incorrect and that the minor assessee should be treated like any other assessee under the Act. The court did not address the issue of exemption under section 5(1)(iv) for subsequent assessment years as the revenue withdrew from pursuing the matter. en-us Fri, 17 Oct 1980 00:00:00 +0530 Mon, 22 Mar 2010 10:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36373 The Appellate Tribunal ruled in favor of the minor assessee in a wealth tax case, holding that she was entitled to claim the full exemption of her share in fixed deposits under section 5(1)(xxvi) of the Wealth-tax Act, 1957 for the assessment year 1973-74. The Tribunal emphasized that the Wealth Tax Officer's application of Rule 2 was incorrect and that the minor assessee should be treated like any other assessee under the Act. The court did not address the issue of exemption under section 5(1)(iv) for subsequent assessment years as the revenue withdrew from pursuing the matter. Case-Laws Wealth-tax Fri, 17 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36373