1998 (10) TMI 79 - AT - Wealth-tax

Summary

The Appellate Tribunal in ITAT Ahmedabad-A allowed the appeal, stating that the assessee is entitled to exemption under section 5(1)(xxiii) of the Wealth Tax Act, despite a previous decision against it. The Tribunal held that the assessee, a trust, is eligible for the exemption, following a previous decision in a similar case. The Tribunal clarified that the exemption under section 5(1)(xxiii) is excluded, not the exemption under section 5(1)(i).