MGN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WEALTH TAX REFERENCE NO.22 OF 1998 The Commissioner of Wealth Tax...Applicant Vs. Sri Dharmendra Deol ..Respondent Mr. P.S. Sahadevan, for the Applicant None for the respondent. CORAM: F.I. CORAM: F.I. CORAM: F.I. REBELLO REBELLO REBELLO & R.S.MOHITE, JJ. R.S.MOHITE, JJ. R.S.MOHITE, JJ. DATED: 22nd January, 2009 DATED: 22nd January, 2009 DATED: 22nd January, 2009 P.C.: P.C.: P.C.: . The Tribunal has referred the following question for determination of this Court:- "Whether, on the facts and in the circumstances of the case, the Tribunal who justified in holding that annuity policies are exempt u/s.5(i)(iv) of the W.T. Act, 1957, when, in fact, in view of the provide only much policies where the premium is payable for more then 10 years only be exempt?" 2. The Authorities below have relied upon the judgment of the Supreme Court in Commissioner of Wealth Tax, Punjab 1985 156 ITR 545 (S.C.). The learned Counsel is unable to distinguish the judgment from the facts in the instant case. In the light of that reference answered in the affirmative in favour of the assessee and against Revenue. Reference disposed off accordingly. (R.S.MOHITE, J.) (F.I.REBELLO,J.) (R.S.MOHITE, J.) (F.I.REBELLO,J.) (R.S.MOHITE, J.) (F.I.REBELLO,J.)