https://www.taxtmi.com/caselaws?id=24486 The value of drawings, paintings, manuscripts and similar items was held exempt from wealth-tax under section 5(1)(xii) of the Wealth-tax Act, 1957. The High Court relied on its earlier ruling involving the same assessee and the same statutory provision, where exemption for paintings had already been upheld. Because the present reference raised the same legal question for other assessment years, the earlier decision was treated as governing the issue, and the reference was answered in favour of the assessee and against the Commissioner. en-us Tue, 09 Aug 1988 00:00:00 +0530 Wed, 20 Jan 2010 14:07:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24486 The value of drawings, paintings, manuscripts and similar items was held exempt from wealth-tax under section 5(1)(xii) of the Wealth-tax Act, 1957. The High Court relied on its earlier ruling involving the same assessee and the same statutory provision, where exemption for paintings had already been upheld. Because the present reference raised the same legal question for other assessment years, the earlier decision was treated as governing the issue, and the reference was answered in favour of the assessee and against the Commissioner. Case-Laws Wealth-tax Tue, 09 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24486