https://www.taxtmi.com/caselaws?id=25390 The court determined that gold ornaments without precious or semi-precious stones were not classified as "jewellery" under Section 5(1)(viii) of the Wealth-tax Act, 1957, for periods preceding April 1, 1972. Explanation I, which extended the definition to include such ornaments, was held to have prospective application from April 1, 1972. The judgment favored the assessee, ruling against retrospective application and entailing no costs. en-us Tue, 31 Mar 1987 00:00:00 +0530 Thu, 28 Jan 2010 12:53:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25390 The court determined that gold ornaments without precious or semi-precious stones were not classified as "jewellery" under Section 5(1)(viii) of the Wealth-tax Act, 1957, for periods preceding April 1, 1972. Explanation I, which extended the definition to include such ornaments, was held to have prospective application from April 1, 1972. The judgment favored the assessee, ruling against retrospective application and entailing no costs. Case-Laws Wealth-tax Tue, 31 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25390