https://www.taxtmi.com/caselaws?id=29040 The High Court of Madhya Pradesh held that for assessment years before April 1, 1972, gold ornaments without precious or semi-precious stones do not qualify as "jewellery" under section 5(1)(viii) of the Wealth-tax Act. The court emphasized the common understanding of "jewellery" as items with precious or semi-precious stones and ruled that the expanded definition introduced in 1972 did not apply retroactively. The case was referred back to the Division Bench for further proceedings, with no cost orders issued. en-us Fri, 06 Aug 1982 00:00:00 +0530 Wed, 10 Mar 2010 13:47:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29040 The High Court of Madhya Pradesh held that for assessment years before April 1, 1972, gold ornaments without precious or semi-precious stones do not qualify as "jewellery" under section 5(1)(viii) of the Wealth-tax Act. The court emphasized the common understanding of "jewellery" as items with precious or semi-precious stones and ruled that the expanded definition introduced in 1972 did not apply retroactively. The case was referred back to the Division Bench for further proceedings, with no cost orders issued. Case-Laws Wealth-tax Fri, 06 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29040