GOPINATHAN Vs. COMMISSIONER OF WEALTH TAX COCHIN

JUDGEMENT

(1.) Under S.27(1) of the Wealth Tax Act, 1957 the petitioner moved the Tribunal for reference of the question in pursuance of which the following question has been referred as common question in all these references.

(2.) The question is a pure question of interpretation of the statutory provision of S.5(1)(xxxiii) of the Wealth Tax Act, 1957.

(3.) Even then inevitable factual matrix would be necessary. The original applicant is a Doctor of Medicine. As a non resident he returned to India in May 1979 and therefore, for the purpose of the assessment years 1980-81 and 1981-82 he became a resident Indian. As he returned with the intention of settling for good naturally the moneys and the value of assets brought by him into India together with the value of assets acquired out of such moneys were sought to be claimed by way of an exemption under the above statutory provision. In other words, the assessee's claim that the entire wealth in India as on the date of his arrival for good was entitled to be considered for exemption.