https://www.taxtmi.com/caselaws?id=61785 The Tribunal dismissed the appeals by the assessee, allowed the appeals by the revenue, and rejected the cross-objections, concluding the wealth-tax assessments for the years in question. The provision made for purchase tax liability was deemed contingent, the foreign-made car was considered a business asset for tax purposes, and the industrial subsidy was included in the net wealth based on previous decisions, leading to an unfavorable outcome for the assessee in all three issues. en-us Fri, 30 Sep 1988 00:00:00 +0530 Fri, 14 Jan 2011 18:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61785 The Tribunal dismissed the appeals by the assessee, allowed the appeals by the revenue, and rejected the cross-objections, concluding the wealth-tax assessments for the years in question. The provision made for purchase tax liability was deemed contingent, the foreign-made car was considered a business asset for tax purposes, and the industrial subsidy was included in the net wealth based on previous decisions, leading to an unfavorable outcome for the assessee in all three issues. Case-Laws Wealth-tax Fri, 30 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61785