https://www.taxtmi.com/caselaws?id=39179 Reopening wealth-tax assessments under section 17 required material showing that the statutory exemption under section 5(1)(i) was not available. The Court held that allegations of breach of trust or misuse of income did not, by themselves, negate the position that the property continued to be held under trust or legal obligation for a public charitable or religious purpose in India. Because the revenue's material went only to alleged misapplication of income and not to the basic exemption condition, the reopening notices lacked sufficient basis and were quashed. en-us Thu, 11 Dec 1975 00:00:00 +0530 Tue, 13 Apr 2010 15:16:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39179 Reopening wealth-tax assessments under section 17 required material showing that the statutory exemption under section 5(1)(i) was not available. The Court held that allegations of breach of trust or misuse of income did not, by themselves, negate the position that the property continued to be held under trust or legal obligation for a public charitable or religious purpose in India. Because the revenue's material went only to alleged misapplication of income and not to the basic exemption condition, the reopening notices lacked sufficient basis and were quashed. Case-Laws Wealth-tax Thu, 11 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39179