https://www.taxtmi.com/caselaws?id=58087 The Tribunal allowed the assessee's appeals, concluding that shares held by the trusts should not be included in the computation of net wealth. The Tribunal directed the WTO to allow the exemption under section 5(1)(xxiii) read with section 5(1A) for the value of shares included in the net wealth of the trust after deducting the values of interests of beneficiaries. This decision was based on the interpretation and application of the relevant provisions of the Wealth-tax Act, resulting in the exemption being granted to the assessee for the shares held in Indian companies. en-us Tue, 10 Feb 1987 00:00:00 +0530 Fri, 17 Dec 2010 12:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58087 The Tribunal allowed the assessee's appeals, concluding that shares held by the trusts should not be included in the computation of net wealth. The Tribunal directed the WTO to allow the exemption under section 5(1)(xxiii) read with section 5(1A) for the value of shares included in the net wealth of the trust after deducting the values of interests of beneficiaries. This decision was based on the interpretation and application of the relevant provisions of the Wealth-tax Act, resulting in the exemption being granted to the assessee for the shares held in Indian companies. Case-Laws Wealth-tax Tue, 10 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58087