https://www.taxtmi.com/caselaws?id=65714 The Tribunal upheld the inclusion of the house property value in the net wealth, dismissing the Revenue's appeals. It was held that only the funds transferred by the assessee to his spouse should be added under section 4 of the Wealth Tax Act, not the value of the converted asset. The validity of re-opening assessments based on a change of opinion was not extensively discussed as it did not impact the net wealth assessment. The Tribunal confirmed the AAC's orders, ruling in favor of the assessee. en-us Wed, 27 Jun 1979 00:00:00 +0530 Fri, 18 Feb 2011 14:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65714 The Tribunal upheld the inclusion of the house property value in the net wealth, dismissing the Revenue's appeals. It was held that only the funds transferred by the assessee to his spouse should be added under section 4 of the Wealth Tax Act, not the value of the converted asset. The validity of re-opening assessments based on a change of opinion was not extensively discussed as it did not impact the net wealth assessment. The Tribunal confirmed the AAC's orders, ruling in favor of the assessee. Case-Laws Wealth-tax Wed, 27 Jun 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65714