1980 (3) TMI 131 - AT - Wealth-tax

Summary

The appeal was made by an HUF for the assessment year 1978-79 regarding exemption claimed under s. 5(1)(iv) of the WT Act. The AAC and WTO had denied the exemption, but the ITAT Gauhati allowed the appeal, granting the exemption based on a previous decision. The appeal by the assessee was successful.