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<h1>High Court quashes Wealth-tax Act notice due to petitioner's property ownership denial.</h1> The High Court of Bombay allowed the petition challenging the legality of a notice issued under section 17 of the Wealth-tax Act, 1957. The petitioner's ... Reassessment The High Court of Bombay allowed the petition challenging the legality of a notice issued under section 17 of the Wealth-tax Act, 1957. The petitioner, initially claiming ownership of a property, later declared that he was not the owner, rendering the notice infructuous. The court accepted the petitioner's statement and quashed the notice as infructuous.
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