https://www.taxtmi.com/caselaws?id=26244 The retrospective amendment to section 5(1)(viii) of the Wealth-tax Act, 1957 by the Finance (No. 2) Act, 1971 applied from 1 April 1963, so for assessment year 1963-64 gold ornaments fell within the scope of "jewellery". Earlier Delhi High Court rulings treated gold ornaments as jewellery even without precious stones, with the result that such ornaments were not exempt from inclusion in net wealth. The document states that the assessee's gold ornaments were therefore not exempt from wealth-tax and were includible in the taxable wealth. en-us Wed, 12 Mar 1986 00:00:00 +0530 Wed, 03 Feb 2010 16:38:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26244 The retrospective amendment to section 5(1)(viii) of the Wealth-tax Act, 1957 by the Finance (No. 2) Act, 1971 applied from 1 April 1963, so for assessment year 1963-64 gold ornaments fell within the scope of "jewellery". Earlier Delhi High Court rulings treated gold ornaments as jewellery even without precious stones, with the result that such ornaments were not exempt from inclusion in net wealth. The document states that the assessee's gold ornaments were therefore not exempt from wealth-tax and were includible in the taxable wealth. Case-Laws Wealth-tax Wed, 12 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26244