https://www.taxtmi.com/caselaws?id=39307 The proviso to section 4(1)(a) of the Wealth-tax Act links the relevant assessment year to gift-tax chargeability or exemption under the Gift-tax Act, rather than to the Wealth-tax Act assessment year. Its temporal wording qualifies whether the gift is chargeable or exempt under the Gift-tax Act, supported by the proviso's language and analogous Estate Duty Act wording. Gifts falling outside the specified gift-tax exemption were consequently included in the donor's net wealth. Fixing a generally applicable commencement date for the exemption does not constitute impermissible discrimination under Article 14. en-us Tue, 22 Apr 1975 00:00:00 +0530 Thu, 15 Apr 2010 14:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39307 The proviso to section 4(1)(a) of the Wealth-tax Act links the relevant assessment year to gift-tax chargeability or exemption under the Gift-tax Act, rather than to the Wealth-tax Act assessment year. Its temporal wording qualifies whether the gift is chargeable or exempt under the Gift-tax Act, supported by the proviso's language and analogous Estate Duty Act wording. Gifts falling outside the specified gift-tax exemption were consequently included in the donor's net wealth. Fixing a generally applicable commencement date for the exemption does not constitute impermissible discrimination under Article 14. Case-Laws Income Tax Tue, 22 Apr 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39307