1999 (9) TMI 6

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in coming to the conclusion that the assessee was entitled to exemption under section 5(1)(xxxiii) of the Wealth-tax Act,1957?" The short facts of the case are that the assessee claimed exemption under section 5(1)(xxxiii) of the Wealth-tax Act, 1957 (hereinafter referred to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... diately from the assessment year next to the one in which the person came to India and there was no warrant for any gap for commencement of exemption after the return of the person to India. According to the Wealth-tax Officer, as the clause operated from April 1,1977,it could not be invoked by a person like the assessee, who returned to India before April 1, 1976, i.e., who came to India in Febru .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... assessment years 1977-78, 1978-79 and 1979-80. The Appellate Assistant Commissioner's order is confirmed and the appeals are rejected." In our opinion, the construction which has been put by the Tribunal is in accordance with law. It, therefore, cannot be said that the Tribunal has committed any error in coming to the conclusion that the assessee was entitled to exemption under section 5(1)(xxxii .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X