1990 (11) TMI 86 - HC - Wealth-tax

Summary

The High Court of Allahabad ruled that unstudded ornaments made of precious metals fall within the definition of 'jewellery' under section 5(1)(viii) of the Wealth-tax Act. This decision was based on a previous ruling by a Division Bench of the court. The question referred under section 27(3) of the Act was answered accordingly, with no costs awarded.