https://www.taxtmi.com/caselaws?id=19906 The High Court of Rajasthan ruled in favor of the assessee in a case concerning the ownership of gold ornaments for wealth tax assessment. The court upheld the Income-tax Appellate Tribunal's decision that the assessee was not the owner of the ornaments but held them for her sons' benefit, intended for their wives upon marriage. The court emphasized that the Tribunal's finding based on the uncontroverted affidavit was justified, and there was no conflicting evidence to suggest otherwise. The judgment favored the assessee, rejecting the Revenue's challenge, with no costs imposed. en-us Tue, 07 Dec 1993 00:00:00 +0530 Tue, 10 Nov 2009 15:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19906 The High Court of Rajasthan ruled in favor of the assessee in a case concerning the ownership of gold ornaments for wealth tax assessment. The court upheld the Income-tax Appellate Tribunal's decision that the assessee was not the owner of the ornaments but held them for her sons' benefit, intended for their wives upon marriage. The court emphasized that the Tribunal's finding based on the uncontroverted affidavit was justified, and there was no conflicting evidence to suggest otherwise. The judgment favored the assessee, rejecting the Revenue's challenge, with no costs imposed. Case-Laws Wealth-tax Tue, 07 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19906