Rectification of Wealth-tax Assessments for Jewellery Value: Delhi Court Decision
Commissioner Of Wealth-Tax Versus Mrs. RB. Patel
Commissioner Of Wealth-Tax Versus Mrs. RB. Patel - [2000] 246 ITR 341, 164 CTR 107, 118 TAXMANN 16 The High Court of Delhi ruled that section 35 of the Wealth-tax Act can be used to rectify original assessments and include the value of jewellery, as per the amendment in section 5(1)(viii) by the Finance Act of 1971. The court cited a previous apex court decision to support their ruling. The reference applications were disposed of accordingly.