COMMISSIONER OF WEALTH TAX Vs. DARSHAN KUMAR OSWAL

JUDGEMENT

(1.) FOLLOWING questions of law have been referred for opinion of this Court by the Tribunal, Chandigarh Bench, Chandigarh,

(2.) VALUED gold receivable under the said bonds at Rs. 3,36,090, rejecting the contention of the assessee that the bonds were exempt from being assessed under the WT Act till they are redeemed. The WTO also included deposit of Rs. 66,670 in CDS.

(3.) THE Tribunal upheld the plea of the assessee and held that the assessee was entitled to exemption in respect of both the items. Findings of the Tribunal are: