https://www.taxtmi.com/caselaws?id=9148 Section 5(1)(vi) of the Wealth-tax Act, 1957 was treated as wide enough to cover annuity insurance policies, because the phrase "any policy of insurance" includes deferred annuity arrangements issued as life insurance business. The separate references to Government annuities and pension or life annuities were read as distinct provisions and not as limiting clause (vi). The exemption was also held to continue until the policy moneys became due and payable, so in a deferred annuity only the instalment actually accrued in the relevant year could be brought to wealth-tax, while the balance remained exempt. en-us Mon, 30 Apr 1973 00:00:00 +0530 Fri, 19 Jun 2009 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9148 Section 5(1)(vi) of the Wealth-tax Act, 1957 was treated as wide enough to cover annuity insurance policies, because the phrase "any policy of insurance" includes deferred annuity arrangements issued as life insurance business. The separate references to Government annuities and pension or life annuities were read as distinct provisions and not as limiting clause (vi). The exemption was also held to continue until the policy moneys became due and payable, so in a deferred annuity only the instalment actually accrued in the relevant year could be brought to wealth-tax, while the balance remained exempt. Case-Laws Wealth-tax Mon, 30 Apr 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9148