High Court rejects Department's request on wealth-tax assessments for 1979-82 and 1982-86

The High Court of Allahabad rejected the Department's request to refer a question of law regarding wealth-tax assessments for the years 1979-82 and 1982-86. The Tribunal found no concealment of facts by the assessee and upheld the assessment orders made using the yield method. The court upheld the finality of the assessment orders and denied the Department's request for a different assessment approach.

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The High Court of Allahabad rejected the Department's request to refer a question of law regarding wealth-tax assessments for the years 1979-82 and 1982-86. The Tribunal found no concealment of facts by the assessee and upheld the assessment orders made using the yield method. The court upheld the finality of the assessment orders and denied the Department's request for a different assessment approach.

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