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1994 (4) TMI 35 - MADRAS HIGH COURTExtract: .......is case, the Appellate Tribunal was not correct in law in holding that the benefit of exemption under section 5(1)(iv) of the Wealth-tax Act has to be granted to the assessee for the assessment year 1971-72. In other words, the assessee is not entitled to the said exemption. The reference is answered accordingly. There will be no order as to costs.
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