2000 (7) TMI 38

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....reference applications invoke identical questions, pertaining to the assessment years 1968-69 and 1969-70, which have been referred under section 27(1) of the Wealth-tax Act, 1957 (for short "the Act"), by the Income-tax Appellate Tribunal, Delhi Bench-E (for short "the Tribunal"), for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the provisions of sec....

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.... amendment was made to section 5(1)(viii) making jewellery liable to wealth-tax. Two Explanations were added to this amended section 5(1)(viii), enlarging the scope of interpretation of the word "jewellery". The Explanations were made operative with effect from April 1, 1972. Referring to the amendment, the Wealth-tax Officer was of the view that non-inclusion of value of jewellery in the original....