Amarendra Nath Varma, J. - (1.) The following question has been referred to us for our opinion at the instance of the Commissioner of Wealth-tax, Lucknow : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the value of the books owned by the assessee was exempt from wealth-tax under Section 5(1)(xii) of the Wealth-tax Act, 1957, in its entirety and not to the extent of Rs. 20,000 only within the meaning of Section 5(1)(x) of the same Act ?"
(2.) The assessee, a leading senior advocate, then also the Advocate-General of the State of Uttar Pradesh, owned law books of the value of Rs. 28,944 for use in his profession. In his wealth-tax return for the assessment year in question, namely, 1972-73, he claimed that the value of such books was totally exempt from wealth-tax under Clause (xii) of Section 5(1) of the Wealth-tax Act, 1957. The Wealth-tax Officer, however, allowed him exemption to the extent of Rs. 20,000 only, treating the assets comprising such books as covered by Clause (x) under which there was then a ceiling of exemption amounting to Rs. 20,000 only. In the opinion of the Wealth-tax Officer, the assessee's case was not covered by Clause (xii) of Section 5(1). Consequently, a sum of Rs. 8,944 was added to the total wealth of the assessee in the assessment of wealth-tax.
(3.) On appeal, the Appellate Assistant Commissioner, concurring with the Wealth-tax Officer, observed that in Clause (xii) of Section 5(1), the terms "books or manuscripts" must, on the principle of ejusdem generis, be construed to refer only to works of art and collections of the category mentioned in that clause and not to the books used by the assessee for his profession. The order passed by the Wealth-tax Officer was accordingly affirmed by the Appellate Assistant Commissioner.;