https://www.taxtmi.com/caselaws?id=357661 Loose pearls and stones were held includible in net wealth because the Wealth-tax Act's definition of jewellery extends to ornaments and precious or semi-precious stones, whether or not set in an article or wearing apparel, and the assessee produced no material to dislodge the lower authorities' finding. Interest under the Wealth-tax Act was treated as mandatory, and the Tribunal found no legal infirmity in its levy. On both issues, the additions and interest were sustained and the appeal was rejected in full. en-us Wed, 21 Mar 2018 00:00:00 +0530 Wed, 28 Mar 2018 07:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357661 Loose pearls and stones were held includible in net wealth because the Wealth-tax Act's definition of jewellery extends to ornaments and precious or semi-precious stones, whether or not set in an article or wearing apparel, and the assessee produced no material to dislodge the lower authorities' finding. Interest under the Wealth-tax Act was treated as mandatory, and the Tribunal found no legal infirmity in its levy. On both issues, the additions and interest were sustained and the appeal was rejected in full. Case-Laws Wealth-tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357661