https://www.taxtmi.com/caselaws?id=11969 The High Court held that the Commissioner of Wealth-tax was justified in interfering with the Wealth-tax Officer's order under Section 25(2) of the Wealth-tax Act. The Tribunal's decision was overturned as it misinterpreted the provisions of Section 25(2). The Court ruled in favor of the Revenue, upholding the inclusion of annuity policies in the net wealth and limiting the exemption to one-tenth of the policy value as per Section 5(1)(vi) of the Wealth-tax Act. en-us Fri, 14 Feb 2003 00:00:00 +0530 Sun, 14 Feb 2010 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11969 The High Court held that the Commissioner of Wealth-tax was justified in interfering with the Wealth-tax Officer's order under Section 25(2) of the Wealth-tax Act. The Tribunal's decision was overturned as it misinterpreted the provisions of Section 25(2). The Court ruled in favor of the Revenue, upholding the inclusion of annuity policies in the net wealth and limiting the exemption to one-tenth of the policy value as per Section 5(1)(vi) of the Wealth-tax Act. Case-Laws Wealth-tax Fri, 14 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11969