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1976 (3) TMI 85 - ITAT HYDERABAD-AExtract: .......ided under s. 5 (1)(iv) of the Wealth Tax Act, 1957. On a true and correct interpretation of Rule. 2 read with s. 5 (1)(iv) of the WT Act, the assessee s claim is well founded. The authorities below ought to have allowed exemption under s. 5 (1)(iv) of the WT Act at least to the extent of Rs.20,000. 3. In the result, the appeals are partly allowed.
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