https://www.taxtmi.com/caselaws?id=70744 National Defence Gold Bonds remained exempt from inclusion in net wealth under section 5(1)(xvia) of the Wealth-tax Act so long as they were still held in bond form on the valuation date. The expiry of the original repayment date did not by itself withdraw the exemption, and the extended encashment period under the Gold Control framework meant the holder was not treated as owning taxable gold until encashment in the prescribed manner. Accordingly, the value of such bonds was not includible in net wealth while they continued to subsist as bonds. 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 National Defence Gold Bonds remained exempt from inclusion in net wealth under section 5(1)(xvia) of the Wealth-tax Act so long as they were still held in bond form on the valuation date. The expiry of the original repayment date did not by itself withdraw the exemption, and the extended encashment period under the Gold Control framework meant the holder was not treated as owning taxable gold until encashment in the prescribed manner. Accordingly, the value of such bonds was not includible in net wealth while they continued to subsist as bonds. Case-Laws Wealth-tax Thu, 10 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70744