https://www.taxtmi.com/caselaws?id=24856 The Court upheld the Tribunal's decision that the silver vessels qualified as 'personal effects' under section 2(14)(ii) of the Income-tax Act, 1961. Despite their considerable value, the silver articles were deemed suitable for daily use on occasions like birthdays and festivals, aligning with the definition of personal effects. The Revenue's challenge was dismissed as the Court found no specific grounds to overturn the Tribunal's findings. The Court directed each party to bear their costs and forwarded the judgment to the Income-tax Appellate Tribunal, Cochin Bench. en-us Fri, 04 Dec 1987 00:00:00 +0530 Fri, 22 Jan 2010 17:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24856 The Court upheld the Tribunal's decision that the silver vessels qualified as 'personal effects' under section 2(14)(ii) of the Income-tax Act, 1961. Despite their considerable value, the silver articles were deemed suitable for daily use on occasions like birthdays and festivals, aligning with the definition of personal effects. The Revenue's challenge was dismissed as the Court found no specific grounds to overturn the Tribunal's findings. The Court directed each party to bear their costs and forwarded the judgment to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Fri, 04 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24856