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1982 (2) TMI 36 - HC - Wealth-taxExtract: .......the life-tenant, we do not see how exemption can be withheld from him under s. 5(1)(iv). We are satisfied that the Tribunal as well as the AAC were justified in granting the exemption. The question of law is accordingly answered in favour of the assessee and against the Revenue. The Revenue will pay the costs of the assessee. Counsel s fee Rs. 500.
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