https://www.taxtmi.com/caselaws?id=55494 Section 21A of the Wealth-tax Act was considered in relation to exemption for shares under section 5(1)(xxiii). On a plain reading, the Tribunal viewed section 21A as charging wealth-tax on trust property without excluding assets covered by section 5(1), and therefore as displacing the exemption under clause (xxiii) as well as clause (i). It treated the contrary view in J.E. Chenoy Charitable Trust as inconsistent with the statutory language, while noting that later orders in the assessee's own case had followed that approach. The text concludes that the assessee was entitled to the exemption under section 5(1)(xxiii). en-us Mon, 05 Oct 1998 00:00:00 +0530 Sat, 27 Nov 2010 13:09:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55494 Section 21A of the Wealth-tax Act was considered in relation to exemption for shares under section 5(1)(xxiii). On a plain reading, the Tribunal viewed section 21A as charging wealth-tax on trust property without excluding assets covered by section 5(1), and therefore as displacing the exemption under clause (xxiii) as well as clause (i). It treated the contrary view in J.E. Chenoy Charitable Trust as inconsistent with the statutory language, while noting that later orders in the assessee's own case had followed that approach. The text concludes that the assessee was entitled to the exemption under section 5(1)(xxiii). Case-Laws Wealth-tax Mon, 05 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55494