https://www.taxtmi.com/caselaws?id=22023 The court ruled against the assessee's claim that jewellery should be exempted as works of art under section 5(1)(xii) of the Wealth-tax Act, 1957. Despite arguments on the professional skill and workmanship involved, the court held that jewellery, even if considered works of art, did not qualify for exemption due to legislative changes progressively removing such exemptions. The court emphasized that specific provisions existed for certain exemptions, but jewellery for personal use did not fall under those categories. Consequently, the court affirmed the decision against granting exemption for jewellery as works of art, favoring the Revenue. en-us Fri, 01 Feb 1991 00:00:00 +0530 Sat, 05 Dec 2009 15:45:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22023 The court ruled against the assessee's claim that jewellery should be exempted as works of art under section 5(1)(xii) of the Wealth-tax Act, 1957. Despite arguments on the professional skill and workmanship involved, the court held that jewellery, even if considered works of art, did not qualify for exemption due to legislative changes progressively removing such exemptions. The court emphasized that specific provisions existed for certain exemptions, but jewellery for personal use did not fall under those categories. Consequently, the court affirmed the decision against granting exemption for jewellery as works of art, favoring the Revenue. Case-Laws Wealth-tax Fri, 01 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22023