Definition of jewellery under wealth tax Act governs taxability of plain metal ornaments; adverse tribunal rulings to be contested. The Board disagrees with Tribunal decisions that plain gold, silver or platinum ornaments without stones fall outside jewellery under Section 5(1)(viii) as amended; a reference has been authorised, Ministry of Law notes circulated, and officers are directed to contest adverse Appellate Assistant Commissioner and Tribunal decisions pending High Court determination.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Definition of jewellery under wealth tax Act governs taxability of plain metal ornaments; adverse tribunal rulings to be contested.
The Board disagrees with Tribunal decisions that plain gold, silver or platinum ornaments without stones fall outside jewellery under Section 5(1)(viii) as amended; a reference has been authorised, Ministry of Law notes circulated, and officers are directed to contest adverse Appellate Assistant Commissioner and Tribunal decisions pending High Court determination.
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