https://www.taxtmi.com/caselaws?id=59198 National Defence Gold Bonds, 1980, after maturity but before redemption, ceased to carry interest and lost their character as assignable bonds; the holder retained only a right to obtain delivery of the underlying gold on presentation of the matured instrument. An administrative notification extending the redemption date did not change the instrument's legal nature for wealth-tax purposes. The matured document was treated as a document of title to gold and therefore a taxable asset. The exemption under section 5(1)(xvia) of the Wealth-tax Act was not available. en-us Wed, 19 Aug 1987 00:00:00 +0530 Mon, 27 Dec 2010 10:41:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59198 National Defence Gold Bonds, 1980, after maturity but before redemption, ceased to carry interest and lost their character as assignable bonds; the holder retained only a right to obtain delivery of the underlying gold on presentation of the matured instrument. An administrative notification extending the redemption date did not change the instrument's legal nature for wealth-tax purposes. The matured document was treated as a document of title to gold and therefore a taxable asset. The exemption under section 5(1)(xvia) of the Wealth-tax Act was not available. Case-Laws Wealth-tax Wed, 19 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59198