1982 (5) TMI 13 - HC - Wealth-tax

Summary

The judgment relates to Wealth-tax References for assessment years 1972-73 and 1973-74. The issue is whether the annuity policy is exempt from wealth-tax under section 5(1)(vi) of the Wealth-tax Act. The court held in favor of the assessee based on the decision in Yuvraj Amrinder Singh's case. The Tribunal's decision to exempt the annuity policy from wealth-tax was upheld.