https://www.taxtmi.com/caselaws?id=66916 The Appellate Tribunal denied the assessee's appeal regarding the taxability of a payment received from the Government of India after the abolition of privy purse. The Tribunal held that the payment was not exempt from wealth tax as claimed by the assessee, as there was no legislative intent to provide such exemption in the relevant taxing statutes. The decision was based on the interpretation of the Covenant, White Paper, and the absence of specific provisions in the Wealth-tax Act supporting the exemption, despite arguments presented by the assessee's representative. en-us Sat, 24 Aug 1985 00:00:00 +0530 Tue, 08 Mar 2011 11:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66916 The Appellate Tribunal denied the assessee's appeal regarding the taxability of a payment received from the Government of India after the abolition of privy purse. The Tribunal held that the payment was not exempt from wealth tax as claimed by the assessee, as there was no legislative intent to provide such exemption in the relevant taxing statutes. The decision was based on the interpretation of the Covenant, White Paper, and the absence of specific provisions in the Wealth-tax Act supporting the exemption, despite arguments presented by the assessee's representative. Case-Laws Wealth-tax Sat, 24 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66916