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2015 (5) TMI 321 - SC - Wealth-taxScope and ambit of section 40(3)(vi) of the Finance Act, 1983 - Whether the Hospital property would be subjected to wealth tax under the Wealth Tax Act, 1957 - the contention of the appellant is that the Hospital building should be treated as “office” which is used for the purposes of its business. - Held that:- For the exclusion the 'hospital' must be one held by an industrial unit for the welfare of its employees. Thus the intention of the legislature as can be understood from this internal aids is that the legislature did not intend to exclude all the buildings which are used for the purpose of its business and that it was intended to exclude only such of those buildings which are specifically mentioned as excluded in clause (vi) which are used for industrial purposes and not for all business purposes - Decision of High Court in the case of High Court [2003 (3) TMI 36 - KERALA High Court] sustained - Decided against assessee.
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