https://www.taxtmi.com/caselaws?id=61802 The Appellate Tribunal ITAT Cochin ruled in favor of the assessee, holding that the monies brought into India before permanently residing in the country qualified for exemption under section 5(1)(xxxiii) of the Wealth Tax Act. The Tribunal emphasized the importance of the individual's intention to permanently reside in India rather than a strict timeline for bringing assets into the country. The decision supported the broader interpretation of the provision to consider the practicalities of preparing for permanent residency in India, allowing the assessee's appeal and granting the exemption for the monies remitted just before returning to India. en-us Thu, 11 Oct 1990 00:00:00 +0530 Sat, 15 Jan 2011 11:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61802 The Appellate Tribunal ITAT Cochin ruled in favor of the assessee, holding that the monies brought into India before permanently residing in the country qualified for exemption under section 5(1)(xxxiii) of the Wealth Tax Act. The Tribunal emphasized the importance of the individual's intention to permanently reside in India rather than a strict timeline for bringing assets into the country. The decision supported the broader interpretation of the provision to consider the practicalities of preparing for permanent residency in India, allowing the assessee's appeal and granting the exemption for the monies remitted just before returning to India. Case-Laws Wealth-tax Thu, 11 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61802