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1987 (2) TMI 99 - AT - Wealth-taxExtract: .......t and as such, exemption to the extent of Rs. 1,50,000 was allowable. The reasons given by the learned Commissioner of Wealth-tax (Appeals) cannot stand in view of the principle laid down by the Bombay High Court in the above two decisions. We accordingly direct the Wealth-tax Officer to allow the said exemption. 11. The appeals are partly allowed.
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