1998 (9) TMI 46

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..... ion 5(1)(xxxiii) of the Wealth-tax Act, 1957, is available only to an assessee, who had returned to India during the previous year relevant to the assessment year. No support can be found in the language of the said section for that proposition, A person of Indian origin who was in a foreign country had returned to India prior to April, 1977, when section 5(1)(xxxiii) of the Wealth-tax Act came in .....

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..... Karnataka High Court in the case of CWT v. Ram A. Joshi (Advocate) (Dr.) [1992] 196 ITR 393 (Kar). In this case, though the assessee came to India in 1972, the provision under which the exemption was sought was effective from April 1, 1977. The assessee nevertheless was entitled to the benefit of that provision. For the purposes of that provision, it is not the date of returning to India that is m .....

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