AGASTHIYAR TRUST Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THE question that is referred for our consideration is,

(2.) THE tribunal declined to accept the contention that the assessee Trust is entitled to exemption under section 5(1)(i) of the Wealth-tax Act on the ground that the assessee's claim for such exemption under section 11 of the Income-tax Act on identical facts had been negatived by this Court earlier. THE decision of this Court on which the Tribunal relied was subsequently reversed by the Supreme Court in the decision rendered in Civil Appeal Nos. 1846-63 of 1988decided on 5-2-1998.