https://www.taxtmi.com/caselaws?id=28316 For assessment years prior to 1 April 1972, the expression "jewellery" in section 5(1)(viii) of the Wealth-tax Act, 1957 did not include gold ornaments unless they were studded with precious or semi-precious stones. Applying the Full Bench view, the High Court held that plain gold ornaments fell outside the scope of the exemption-related term "jewellery" for that period, and the reference was answered against the assessee. en-us Sat, 04 Sep 1982 00:00:00 +0530 Sat, 20 Feb 2010 13:13:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28316 For assessment years prior to 1 April 1972, the expression "jewellery" in section 5(1)(viii) of the Wealth-tax Act, 1957 did not include gold ornaments unless they were studded with precious or semi-precious stones. Applying the Full Bench view, the High Court held that plain gold ornaments fell outside the scope of the exemption-related term "jewellery" for that period, and the reference was answered against the assessee. Case-Laws Wealth-tax Sat, 04 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28316