| Case ID |
e99f01b2-3f35-44a6-ac42-8414930eaf83 |
| Body |
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| Case Number |
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| Decision Date |
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| Hearing Date |
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| Decision |
The court held that unstudded ornaments made of precious metals fall within the purview of the term 'jewellery' as defined in section 5(1)(viii) of the Wealth-tax Act, 1957. This decision aligns with the precedent set in CWT v. Maharaja Vibhuti Narain Singh [1979] 117 ITR 246, establishing that the term 'jewellery' encompasses unstudded jewellery, even prior to the introduction of Explanation 1. The ruling confirms that such ornaments are eligible for exemption under the Wealth-tax Act, reinforcing the interpretation of jewellery to include a broader classification of ornaments. |
| Summary |
In the case brought before the Allahabad High Court, the primary issue was whether unstudded ornaments made of precious metals qualify as 'jewellery' under section 5(1)(viii) of the Wealth-tax Act, 1957. The court's consideration was rooted in an analysis of previous case law, particularly CWT v. Maharaja Vibhuti Narain Singh, which had established a precedent that the expression 'jewellery' includes unstudded ornaments. The court ultimately ruled in favor of the assessee, affirming that unstudded ornaments are indeed considered jewellery and thus eligible for exemption under the Wealth-tax Act. This case highlights important legal principles regarding tax exemptions for personal assets and the interpretation of legislative terms in tax law. Keywords such as 'Wealth Tax', 'Jewellery Exemption', 'Tax Law Cases', and 'Legal Precedents in Wealth Tax' are relevant for those researching tax law and its implications for personal property. |
| Court |
Allahabad High Court
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| Entities Involved |
Not available
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| Judges |
B.P. Jeevan Reddy, CJ,
V.N. Mehrotra, J.
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| Lawyers |
Not available
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| Petitioners |
Commissioner of Wealth Tax
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| Respondents |
Udai Saroj Shah
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| Citations |
1991 SLD 1797,
(1991) 190 ITR 652
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| Other Citations |
CWT v. Maharaja Vibhuti Narain Singh [1979] 117 ITR 246 (All.)
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| Laws Involved |
Wealth-tax Act, 1957
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| Sections |
5(1)(viii)
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