https://www.taxtmi.com/caselaws?id=11984 The court ruled in favor of the assessee, a non-resident Indian, regarding the eligibility for exemption under section 5(1)(xxxiii) of the Wealth-tax Act for the sale proceeds of a Mercedes Benz car brought into India. The court held that the assessee is entitled to claim exemption on the value of the car brought into India or the price received from its sale, interpreting the provisions to support the exemption claim on the sale proceeds of the asset brought from abroad. The decision affirmed the assessee's entitlement to the exemption under the Wealth-tax Act. en-us Tue, 14 Jan 2003 00:00:00 +0530 Sun, 14 Feb 2010 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11984 The court ruled in favor of the assessee, a non-resident Indian, regarding the eligibility for exemption under section 5(1)(xxxiii) of the Wealth-tax Act for the sale proceeds of a Mercedes Benz car brought into India. The court held that the assessee is entitled to claim exemption on the value of the car brought into India or the price received from its sale, interpreting the provisions to support the exemption claim on the sale proceeds of the asset brought from abroad. The decision affirmed the assessee's entitlement to the exemption under the Wealth-tax Act. Case-Laws Wealth-tax Tue, 14 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11984