https://www.taxtmi.com/caselaws?id=38374 The Court ruled in favor of the assessee, holding that the annuity of Rs. 1,000 per month under the agreement dated May 20, 1958, was exempt under section 2(e)(iv) of the Wealth-tax Act, 1957. The Court emphasized that the agreement did not allow for commutation of any part of the annuity into a lump sum grant, meeting the criteria for exemption. The revenue was directed to pay the costs of the reference to the assessee. en-us Fri, 06 Aug 1976 00:00:00 +0530 Mon, 05 Apr 2010 18:04:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38374 The Court ruled in favor of the assessee, holding that the annuity of Rs. 1,000 per month under the agreement dated May 20, 1958, was exempt under section 2(e)(iv) of the Wealth-tax Act, 1957. The Court emphasized that the agreement did not allow for commutation of any part of the annuity into a lump sum grant, meeting the criteria for exemption. The revenue was directed to pay the costs of the reference to the assessee. Case-Laws Wealth-tax Fri, 06 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38374