1998 (10) TMI 79

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....ntitled to exemption under s. 5(1)(xxiii) of the WT Act. In the fact and circumstances of the case and in view of the Tribunal's Hyderabad Bench 'A' decision in the case of J.E. Chenoy Charitable Trust in WTA Nos. 89 to 93 (HYD) of 1983, it is submitted that your Appellant is entitled for exemption in respect of the shares held on valuation date." 2. The assessee held shares in Indian Companies....

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.... individual while here it is a trust. He dismissed the appeal. 4. However, the Tribunal for the subsequent assessment years in the assessee's case has followed its decision in the case of J.E. Chenoy where the Tribunal while holding that the benefit of s. 5(1)(xxiii) is available to the assessee has observed that the assessee is not entitled to exemption under s. 5(1)(i). Now the charging part ....