https://www.taxtmi.com/caselaws?id=62407 Gold or silver ornaments without precious or semi-precious stones were treated as outside the scope of "jewellery" under section 5(1)(viii) of the Wealth-tax Act for the assessment years 1970-71 and 1971-72, because the pre-amendment position did not cover such ornaments. The Tribunal followed the binding Orissa High Court view and held that the retrospective insertion of Explanation I by the Finance Act (No. 2) of 1971 did not change the position for those years. The ornaments were therefore excluded from taxable wealth. en-us Fri, 17 Sep 1976 00:00:00 +0530 Wed, 19 Jan 2011 17:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62407 Gold or silver ornaments without precious or semi-precious stones were treated as outside the scope of "jewellery" under section 5(1)(viii) of the Wealth-tax Act for the assessment years 1970-71 and 1971-72, because the pre-amendment position did not cover such ornaments. The Tribunal followed the binding Orissa High Court view and held that the retrospective insertion of Explanation I by the Finance Act (No. 2) of 1971 did not change the position for those years. The ornaments were therefore excluded from taxable wealth. Case-Laws Wealth-tax Fri, 17 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62407