https://www.taxtmi.com/caselaws?id=59195 The tribunal ruled in favor of the revenue, overturning the Appellate Authority Commissioner's decision and reinstating the Wealth Tax Officer's orders. It clarified that the exemption under section 5(1)(xxxiii) of the Wealth-tax Act, 1957 applied for seven successive assessment years from the year of return to India, regardless of tax liability in each year. The judgment emphasized interpreting taxing statutes based on clear expressions and upheld the statutory provisions' unambiguous nature in determining the exemption period for individuals of Indian origin returning to India permanently. en-us Wed, 19 Nov 1986 00:00:00 +0530 Sat, 25 Dec 2010 14:49:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59195 The tribunal ruled in favor of the revenue, overturning the Appellate Authority Commissioner's decision and reinstating the Wealth Tax Officer's orders. It clarified that the exemption under section 5(1)(xxxiii) of the Wealth-tax Act, 1957 applied for seven successive assessment years from the year of return to India, regardless of tax liability in each year. The judgment emphasized interpreting taxing statutes based on clear expressions and upheld the statutory provisions' unambiguous nature in determining the exemption period for individuals of Indian origin returning to India permanently. Case-Laws Wealth-tax Wed, 19 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59195