https://www.taxtmi.com/caselaws?id=13797 A person of Indian origin who returned to India with the intention of permanently residing there could claim exemption under section 5(1)(xxxiii) of the Wealth-tax Act, 1957, and the seven-year benefit was to be computed from the assessment year next following the date of return. The later commencement of the provision did not negate the prior return to India, because the relevant condition was the fact of return with the requisite intention. On that construction, the exemption was unavailable for earlier assessment years but applied to the assessment years falling within the statutory seven-year period, and the issue was answered in favour of the assessee. en-us Wed, 01 Sep 1999 00:00:00 +0530 Thu, 02 Jul 2009 18:28:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13797 A person of Indian origin who returned to India with the intention of permanently residing there could claim exemption under section 5(1)(xxxiii) of the Wealth-tax Act, 1957, and the seven-year benefit was to be computed from the assessment year next following the date of return. The later commencement of the provision did not negate the prior return to India, because the relevant condition was the fact of return with the requisite intention. On that construction, the exemption was unavailable for earlier assessment years but applied to the assessment years falling within the statutory seven-year period, and the issue was answered in favour of the assessee. Case-Laws Wealth-tax Wed, 01 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13797