1996 (11) TMI 18

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....rt "the Act". The Revenue is the petitioner. It seeks a direction to the Tribunal to state the case and refer the following questions as questions of law to this Court for opinion: "1. Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the value of the jewellery fund in Part I of the schedule to the SB. Anwar Begum Trust should not be incl....

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.... Tribunal, following the judgment of a Division Bench of this Court in RC No. 67 of 1969, dt. 5th Nov., 1971, held that the right to wear jewellery, however widely the expression might be interpreted, could not be considered to be "property" for the purpose of wealth-tax and thus dismissed the appeal of the Revenue on 30th May, 1989. The application of the petitioner under s. 27(1) of the Act to r....

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....4. We have perused the order relied upon by learned junior standing counsel for the Revenue in RC No. 41 of 1989, dt. 23rd Feb., 1995. It relates to the interpretation of the trust deed executed by H.E.H. the Nizam on 21st March, 1953, viz., Sahebzadi Anwar Begum Trust. The present case arises out of the trust known as "the Nizam's Wedding Gifts Trust for two granddaughters", dt. 4th Sept., 1951. ....