2001 (2) TMI 48

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..... income for the assessment years 1978-79 and 1979-80, the Wealth-tax Officer adopted the residential status of the assessee as a resident but not ordinarily resident as taken in the income-tax assessment and consequently denied the claim for exemption of foreign wealth from wealth-tax. On appeal, the Commissioner of Wealth-tax (Appeals) held that in the income-tax assessment claimed by the assessee .....

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..... family and it is not possible to extend to the word 'person' as meaning of every member of a Hindu undivided family. The Hindu undivided family being outside the scope of the Explanation in the context in which the word 'person' is used in this provision, a Hindu undivided family cannot be regarded as a person for the purposes of section 5(1)(xxxiii) and cannot claim exemption under that provision .....

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