https://www.taxtmi.com/caselaws?id=16046 Section 5(1)(xxxiii) of the Wealth-tax Act was construed as not confined to an assessee who returned to India during the relevant previous year. The exemption was held to extend to a person of Indian origin who had returned to India before the provision came into force, because the clause contained no limiting language tied to the year of return. The relevant consideration was the bringing of assets into India and their use in India, and for earlier returnees the exemption period commenced from the year next following the date the provision became operative. The exemption was therefore available to the assessee. en-us Mon, 21 Sep 1998 00:00:00 +0530 Mon, 31 Aug 2009 16:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16046 Section 5(1)(xxxiii) of the Wealth-tax Act was construed as not confined to an assessee who returned to India during the relevant previous year. The exemption was held to extend to a person of Indian origin who had returned to India before the provision came into force, because the clause contained no limiting language tied to the year of return. The relevant consideration was the bringing of assets into India and their use in India, and for earlier returnees the exemption period commenced from the year next following the date the provision became operative. The exemption was therefore available to the assessee. Case-Laws Wealth-tax Mon, 21 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16046