https://www.taxtmi.com/caselaws?id=24580 Paintings, drawings and manuscripts were treated as exempt from wealth-tax because they were not held for sale and therefore fell within the movable property exemption under section 5(1)(xii) of the Wealth-tax Act, 1957. The same position had already been accepted for earlier assessment years, and that factual basis governed the treatment of these assets in net wealth. On that footing, their value was not includible in the assessee's net wealth and remained outside wealth-tax. en-us Fri, 12 Aug 1988 00:00:00 +0530 Thu, 21 Jan 2010 10:23:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24580 Paintings, drawings and manuscripts were treated as exempt from wealth-tax because they were not held for sale and therefore fell within the movable property exemption under section 5(1)(xii) of the Wealth-tax Act, 1957. The same position had already been accepted for earlier assessment years, and that factual basis governed the treatment of these assets in net wealth. On that footing, their value was not includible in the assessee's net wealth and remained outside wealth-tax. Case-Laws Wealth-tax Fri, 12 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24580