https://www.taxtmi.com/caselaws?id=25370 Rule 5(2) of the Wealth-tax (Exemption of Heirloom Jewellery of Rulers) Rules, 1958 exceeded the enabling power under section 5(1)(xiv) of the Wealth-tax Act, 1957 because, although the rule-making power could include conditions for recognition and withdrawal of heirloom status, it could not authorise retrospective wealth-tax liability or a valuation method inconsistent with section 7. The rule therefore went beyond delegated authority, and the consequential withdrawal order and demand notices founded on it were invalid and liable to be quashed. en-us Fri, 31 Oct 1986 00:00:00 +0530 Thu, 28 Jan 2010 11:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25370 Rule 5(2) of the Wealth-tax (Exemption of Heirloom Jewellery of Rulers) Rules, 1958 exceeded the enabling power under section 5(1)(xiv) of the Wealth-tax Act, 1957 because, although the rule-making power could include conditions for recognition and withdrawal of heirloom status, it could not authorise retrospective wealth-tax liability or a valuation method inconsistent with section 7. The rule therefore went beyond delegated authority, and the consequential withdrawal order and demand notices founded on it were invalid and liable to be quashed. Case-Laws Income Tax Fri, 31 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25370