https://www.taxtmi.com/caselaws?id=56114 The Tribunal ruled in favor of the non-resident Indian, granting exemption for the accrued interest from wealth-tax under section 5(1)(xxxiii). It clarified that assets acquired through interest earnings on the original money brought in are eligible for exemption, emphasizing that any assets whose value has increased over time would be exempt. The Tribunal interpreted the expression "assets acquired out of such moneys" to mean that the money is exchanged for an asset, not for any accretion to the money. Despite the distinction between interest and assets, the Tribunal granted exemption for the interest accrued on the capital amount, ultimately dismissing the appeal. en-us Fri, 28 Aug 1992 00:00:00 +0530 Wed, 01 Dec 2010 16:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56114 The Tribunal ruled in favor of the non-resident Indian, granting exemption for the accrued interest from wealth-tax under section 5(1)(xxxiii). It clarified that assets acquired through interest earnings on the original money brought in are eligible for exemption, emphasizing that any assets whose value has increased over time would be exempt. The Tribunal interpreted the expression "assets acquired out of such moneys" to mean that the money is exchanged for an asset, not for any accretion to the money. Despite the distinction between interest and assets, the Tribunal granted exemption for the interest accrued on the capital amount, ultimately dismissing the appeal. Case-Laws Income Tax Fri, 28 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56114