https://www.taxtmi.com/caselaws?id=56088 The ITAT upheld the decision of the CWT(A) to grant exemption under section 5(1)(xxa) of the Wealth Tax Act for eligible shares, rejecting the revenue's challenge. The ITAT clarified that the exemption was available to both dealers and investors if conditions were met, emphasizing promotion of industrial growth without discrimination. The CWT(A) correctly directed further examination for three companies lacking certificates. The ITAT affirmed the exemption for 14 out of 17 companies, highlighting that subsequent buyers of qualifying shares were entitled to exemption for the remaining qualifying period. en-us Thu, 18 Jan 1990 00:00:00 +0530 Wed, 01 Dec 2010 15:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56088 The ITAT upheld the decision of the CWT(A) to grant exemption under section 5(1)(xxa) of the Wealth Tax Act for eligible shares, rejecting the revenue's challenge. The ITAT clarified that the exemption was available to both dealers and investors if conditions were met, emphasizing promotion of industrial growth without discrimination. The CWT(A) correctly directed further examination for three companies lacking certificates. The ITAT affirmed the exemption for 14 out of 17 companies, highlighting that subsequent buyers of qualifying shares were entitled to exemption for the remaining qualifying period. Case-Laws Wealth-tax Thu, 18 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56088