1999 (9) TMI 6 - HC - Wealth-tax

Summary

The High Court of Gujarat ruled that the assessee was entitled to exemption under section 5(1)(xxxiii) of the Wealth-tax Act, 1957. The Tribunal was correct in concluding that the exemption period starts from the assessment year following the return to India. The judgment favored the assessee, and the reference was disposed of in their favor.