https://www.taxtmi.com/caselaws?id=70744 The Appellate Tribunal ITAT Nagpur upheld the exemption granted under section 5(1)(xvia) of the Wealth-tax Act for gold bonds held by the assessees. The Tribunal ruled that as long as the gold bonds were held and the exemption remained valid, the assessees were entitled to the exemption, dismissing the departmental appeals. The decision affirmed the Commissioner of Wealth-tax (Appeals)'s direction to reduce the wealth by the value of the gold bonds, citing exemption under the Act. en-us Thu, 10 Mar 1988 00:00:00 +0530 Tue, 19 Apr 2011 10:26:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70744 The Appellate Tribunal ITAT Nagpur upheld the exemption granted under section 5(1)(xvia) of the Wealth-tax Act for gold bonds held by the assessees. The Tribunal ruled that as long as the gold bonds were held and the exemption remained valid, the assessees were entitled to the exemption, dismissing the departmental appeals. The decision affirmed the Commissioner of Wealth-tax (Appeals)'s direction to reduce the wealth by the value of the gold bonds, citing exemption under the Act. Case-Laws Wealth-tax Thu, 10 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70744