https://www.taxtmi.com/caselaws?id=55169 The Tribunal held that the shares of the beneficiaries in the trust were specific and determinate, not discretionary, as previously determined by the tax authorities. Consequently, the trust was entitled to exemption under section 5(1)(xxiii) of the Wealth-tax Act, 1957. The Tribunal directed the Wealth Tax Officer to reassess the trust's tax liability based on this finding, allowing the appeals in part. en-us Fri, 27 Jan 1984 00:00:00 +0530 Wed, 24 Nov 2010 12:10:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55169 The Tribunal held that the shares of the beneficiaries in the trust were specific and determinate, not discretionary, as previously determined by the tax authorities. Consequently, the trust was entitled to exemption under section 5(1)(xxiii) of the Wealth-tax Act, 1957. The Tribunal directed the Wealth Tax Officer to reassess the trust's tax liability based on this finding, allowing the appeals in part. Case-Laws Income Tax Fri, 27 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55169