W . T. A. NO.2081 /LB` OF 2001, DECIDED ON 12TH DECEMBER, 2003 versus W . T. A. NO.2081 /LB` OF 2001, DECIDED ON 12TH DECEMBER, 2003
Second Schedule, Part I, CL (7 (II)) Exemptions from foreign remittances were created by claiming immunity from legal inheritance upon the death of the owner of such assets. For the person who created himself: Assets received from the LL7 (II) of foreign remittances of Part I of the Second Schedule to the Wealth Tax Act, 1963, emphasized the word created and the SC Did not create an asset but inherited the same property under the circumstances.
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