1982 (5) TMI 13

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..... W.T. References Nos. 20 and 19 of 1976, which relate to the assessment years 1972-73 and 1973-74, respectively. The Wealth-tax Appellate Tribunal, Chandigarh Bench, has referred the following question for the opinion of the court in W.T. Reference No. 20 of 1976: " Whether, on the facts and in the circumstances of the case, the interest of the assessee in the annuity policy is exempt from wea .....

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..... WTO and, following the High Court dicta in Yuvraj Amrinder Singh's case, accepted the appeal. An appeal against the judgment was taken by the Department to the Wealth-tax Appellate Tribunal, Chandigarh, which affirmed the order of the AAC and dismissed the same. On an application by the Department, the abovesaid question has been referred for decision to this court. The question has already b .....

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..... Wealth-tax Reference No. 19 of 1976 relates to the assessment year 1973-74. The facts of that case are Similar to those of Wealth-tax Reference No. 20 of 1976. The question referred for opinion of this court is as follows: " Whether the right or interest of the assessee in the annuity policy has been rightly held by the Tribunal to be exempt from wealth-tax under the provisions of section 5(1) .....

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