TaxTMI 
TaxTMI 
1990 (8) TMI 102
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.... Act") : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in confirming the order of the Commissioner of Wealth-tax (Appeals) who held that the books in law library held by the assessee and used by him in carrying on his profession qualify for exemption under section 5(1)(xii) of the Wealth-tax Act, 1957 ?" Shri A. K. Sen, former Union Law Minister, a well-known barrister and a senior advocate, is reputed to have a very good library for practising as lawyer. The Wealth-tax Officer (for short "the WTO"), while assessing the wealth-tax of the assessee for the assessment year 1977-78 (Wealth-tax Reference No. 2 of 1987) valued his library books at Rs. 2,00,000 on an estimated basis and added th....
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.... confirmed the view of the Commissioner of Wealth-tax (Appeals) and held that the assessee is entitled to exemption under section 5(1)(xii) of the Act. It has been brought to our notice that the Department has accepted the above findings of the Income-tax Appellate Tribunal and has not sought review/revision of the orders under section 25 or other provisions of the Act for subsequent years. However, the present references have been referred to this court for opinion at the instance of the Commissioner of Wealth-tax under section 27(1) of the Act. Mr. Misra, learned counsel for the Department, while interpreting section 5(1)(xii) of the Act, tried to invoke the principle of ejusdem generis and submitted that the books or manuscripts....
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....of the section do not constitute a same class or category or genus. The first part refers to any work of art. The second part refers to the collections relating to the archaeological, scientific and of art-different subjects, classes and categories and the third part refers to manuscripts and books belonging to the assessee and not intended for sale. Furthermore, it appears, that the Legislature, in its wisdom, has not placed any restrictions while referring to manuscripts and books in section 5(1)(xii) of the Act for the purpose of determination of the net wealth unlike the other two parts. The only restriction placed is that there should be books and these should belong to the assessee and that they should not be intended for sale. The....
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.... genus and, therefore, the general words used in part (3) cannot be construed of the same kind as those specified earlier. Further, the legislative intent and context in which the words "books and manuscripts" are used in section 5(1)(xii) of the Act also indicate a different intention and the principle of ejusdem generis cannot be applied. No restrictions have been laid down for restricting and cutting down the general import of such words. Therefore, these words "manuscripts and books" must be given their natural and unrestricted meaning and these cannot be read down as to be confined only to the subjects dealt with earlier. In this connection, reference may be made to CWT v. S. N. Kacker [1989] 175 ITR 129, wherein a similar question ....