Wealth-tax amendment expands covered instruments to include specified gold bonds and national defence bonds issued in later years. Amendment to the Wealth-tax Act substitutes the clause in section 5(1) to designate specified government-issued gold bonds, including national defence gold bonds, as taxable instruments under the Act, thereby clarifying that these named interest-bearing gold securities fall within the statute's chargeable assets.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth-tax amendment expands covered instruments to include specified gold bonds and national defence bonds issued in later years.
Amendment to the Wealth-tax Act substitutes the clause in section 5(1) to designate specified government-issued gold bonds, including national defence gold bonds, as taxable instruments under the Act, thereby clarifying that these named interest-bearing gold securities fall within the statute's chargeable assets.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.