https://www.taxtmi.com/caselaws?id=24090 The court dismissed the petitions, ruling that gold ornaments could not be included as jewellery in the calculation of net wealth for the assessment years in question. The judgment emphasized that prior to April 1, 1972, gold ornaments were not considered jewellery for wealth tax purposes, and the relevant amendment including gold ornaments within the definition of jewellery was effective only from April 1, 1972. The court concluded that the legislative intent and timeline of amendments supported this interpretation. en-us Thu, 06 Oct 1988 00:00:00 +0530 Sat, 16 Jan 2010 16:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24090 The court dismissed the petitions, ruling that gold ornaments could not be included as jewellery in the calculation of net wealth for the assessment years in question. The judgment emphasized that prior to April 1, 1972, gold ornaments were not considered jewellery for wealth tax purposes, and the relevant amendment including gold ornaments within the definition of jewellery was effective only from April 1, 1972. The court concluded that the legislative intent and timeline of amendments supported this interpretation. Case-Laws Wealth-tax Thu, 06 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24090