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1988 (6) TMI 60 - ITAT BANGALOREExtract: .......hat the asset itself is exempt, we find it unnecessary to consider the grounds of appeal relating to the valuation of the asset. 11. In the circumstances, we accept the claim of the assessee that a cinema, a theatre is exempt from wealth-tax and since the assessee has no other chargeable asset, the assessments are annulled. The appeals are allowed.
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