https://www.taxtmi.com/caselaws?id=64585 Wealth-tax inclusion of seized gold, silver ornaments and cash depends on the assessee's ownership and the existence of an asset with taxable value on the valuation date. Seizure or alleged possession alone does not establish ownership. Where customs findings accept that the assessee neither owned nor possessed or controlled the articles, and no independent material proves ownership, their value cannot be included in net wealth. Confiscation of smuggled gold also leaves no asset with the assessee capable of wealth-tax assessment. en-us Wed, 17 Aug 1983 00:00:00 +0530 Tue, 08 Feb 2011 16:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64585 Wealth-tax inclusion of seized gold, silver ornaments and cash depends on the assessee's ownership and the existence of an asset with taxable value on the valuation date. Seizure or alleged possession alone does not establish ownership. Where customs findings accept that the assessee neither owned nor possessed or controlled the articles, and no independent material proves ownership, their value cannot be included in net wealth. Confiscation of smuggled gold also leaves no asset with the assessee capable of wealth-tax assessment. Case-Laws Wealth-tax Wed, 17 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64585