https://www.taxtmi.com/caselaws?id=55956 The appellate tribunal ruled in favor of the appellant trust on both issues. The trust was recognized as a specific trust with clearly defined beneficiary shares, entitling it to claimed deductions. Additionally, the trust was granted exemption under s. 5(1)(xxiii) of the Wealth Tax Act, up to Rs. 1,50,000 in respect of the value of shares of limited companies. The tribunal's decision was based on legal precedent and consistent treatment of trusts as individuals for exemption purposes. en-us Tue, 06 Mar 1990 00:00:00 +0530 Tue, 30 Nov 2010 17:58:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55956 The appellate tribunal ruled in favor of the appellant trust on both issues. The trust was recognized as a specific trust with clearly defined beneficiary shares, entitling it to claimed deductions. Additionally, the trust was granted exemption under s. 5(1)(xxiii) of the Wealth Tax Act, up to Rs. 1,50,000 in respect of the value of shares of limited companies. The tribunal's decision was based on legal precedent and consistent treatment of trusts as individuals for exemption purposes. Case-Laws Wealth-tax Tue, 06 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55956