https://www.taxtmi.com/caselaws?id=57603 The Tribunal held that the inter-related Hindu Undivided Families were entitled to exemption under section 5(1)(xviia) of the Wealth-tax Act for contributions made to a public provident fund. The Tribunal interpreted the term 'individual' broadly to include HUFs, emphasizing that the exemption aimed to encourage subscriptions to the fund without restricting it to individual assessee. As the statute did not specify the classification for exemption under clause (xviia), the Tribunal ruled in favor of the assessees, directing the Wealth Tax Officer to compute net wealth after granting the deduction, thereby allowing the appeals. en-us Mon, 03 Mar 1986 00:00:00 +0530 Sat, 11 Dec 2010 10:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57603 The Tribunal held that the inter-related Hindu Undivided Families were entitled to exemption under section 5(1)(xviia) of the Wealth-tax Act for contributions made to a public provident fund. The Tribunal interpreted the term 'individual' broadly to include HUFs, emphasizing that the exemption aimed to encourage subscriptions to the fund without restricting it to individual assessee. As the statute did not specify the classification for exemption under clause (xviia), the Tribunal ruled in favor of the assessees, directing the Wealth Tax Officer to compute net wealth after granting the deduction, thereby allowing the appeals. Case-Laws Wealth-tax Mon, 03 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57603