https://www.taxtmi.com/caselaws?id=7215 The High Court ruled against the assessee in a case involving interests in trusts, determining that the life interests in the Ahmedabad and Bombay trusts were not annuities and should be included in the net wealth. However, the court held that ornaments and jewellery intended for personal use are exempt under section 5(1)(viii) without the Rs. 25,000 limit. Each party was ordered to bear its own costs. en-us Mon, 09 Oct 1967 00:00:00 +0530 Thu, 12 Feb 2009 19:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7215 The High Court ruled against the assessee in a case involving interests in trusts, determining that the life interests in the Ahmedabad and Bombay trusts were not annuities and should be included in the net wealth. However, the court held that ornaments and jewellery intended for personal use are exempt under section 5(1)(viii) without the Rs. 25,000 limit. Each party was ordered to bear its own costs. Case-Laws Wealth-tax Mon, 09 Oct 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7215