1982 (9) TMI 14

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..... ellate Tribunal, Indore: " (1) Whether, on the facts and in the circumstances of this case, the Appellate Tribunal was justified in law that even when the provisions of s. 5(1)(viii) of the Act, as amended by Finance (No. 2) Act, 1971, were made restrospective in operation with effect from April 1, 1963, the value of the gold ornaments and jewellery exempted from tax liability could or could not .....

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..... er dated August 6, 1982 (CWT v. Tarabai Kanakmal [1983] 140 ITR 374 (MP) [FB]), has held that for assessment years prior to 1st April, 1972, jewellery will not include gold ornaments not studded with precious or semi-precious stones within the meaning of s. 5(1)(viii). In accordance with the opinion recorded by the Full Bench on question No. (2), we hold that for assessment years prior to April .....

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