https://www.taxtmi.com/caselaws?id=61745 The appeal was allowed in favor of the revenue, affirming the application of the proviso under section 5(1)(vi) of the Wealth-tax Act, 1957, for the assessment year 1975-76. The Tribunal held that the law as of the first day of the assessment year should determine the assessment, disagreeing with the Commissioner (Appeals) and reinstating the order of the WTO regarding the application of the proviso to determine the net wealth for the assessment year in question. en-us Mon, 12 Dec 1983 00:00:00 +0530 Fri, 14 Jan 2011 16:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61745 The appeal was allowed in favor of the revenue, affirming the application of the proviso under section 5(1)(vi) of the Wealth-tax Act, 1957, for the assessment year 1975-76. The Tribunal held that the law as of the first day of the assessment year should determine the assessment, disagreeing with the Commissioner (Appeals) and reinstating the order of the WTO regarding the application of the proviso to determine the net wealth for the assessment year in question. Case-Laws Wealth-tax Mon, 12 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61745