COMMISSIONER OF WEALTH TAX Vs. ADARSH GRAM TRUST

JUDGEMENT

(1.) THIS reference at the instance of the Revenue under Section 27(1) of the Wealth-tax Act, 1957, is to answer the following question of law, namely :

(2.) CONSEQUENTLY, the reference is answered against the Revenue and in favour of the assessee by holding that the Tribunal was justified in holding that the net wealth of the assessee is exempt under Section 5(1)(i) of the Wealth-tax Act. No costs.