https://www.taxtmi.com/caselaws?id=60403 The appellate tribunal upheld the decision of the Appellate Assistant Commissioner (AAC) that the beneficiary was the legal owner of the property and entitled to exemption under section 5(1)(iv) of the Wealth Tax Act. The tribunal dismissed the revenue's appeals and affirmed the AAC's decision to allow the exemption for the beneficiary for all relevant assessment years. The judgment clarifies the significance of legal ownership in determining eligibility for exemption under the Wealth Tax Act. en-us Tue, 24 May 1983 00:00:00 +0530 Wed, 05 Jan 2011 11:43:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60403 The appellate tribunal upheld the decision of the Appellate Assistant Commissioner (AAC) that the beneficiary was the legal owner of the property and entitled to exemption under section 5(1)(iv) of the Wealth Tax Act. The tribunal dismissed the revenue's appeals and affirmed the AAC's decision to allow the exemption for the beneficiary for all relevant assessment years. The judgment clarifies the significance of legal ownership in determining eligibility for exemption under the Wealth Tax Act. Case-Laws Wealth-tax Tue, 24 May 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60403