https://www.taxtmi.com/caselaws?id=11067 The court held that the National Defence Gold Bonds retained their exempt status under section 5(1)(xvia) of the Wealth-tax Act even after the maturity date. The exemption continued until the bonds were redeemed for gold. K.M. Mehta J. concurred, emphasizing that the promise to repay in gold remained until actual redemption, and the exemption persisted as long as the bonds were held. The court ruled in favor of the assessee, entitling them to the exemption for the assessment years 1981-82 to 1983-84, with no order as to costs. en-us Sat, 21 Dec 2002 00:00:00 +0530 Thu, 30 Jul 2009 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11067 The court held that the National Defence Gold Bonds retained their exempt status under section 5(1)(xvia) of the Wealth-tax Act even after the maturity date. The exemption continued until the bonds were redeemed for gold. K.M. Mehta J. concurred, emphasizing that the promise to repay in gold remained until actual redemption, and the exemption persisted as long as the bonds were held. The court ruled in favor of the assessee, entitling them to the exemption for the assessment years 1981-82 to 1983-84, with no order as to costs. Case-Laws Wealth-tax Sat, 21 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11067