https://www.taxtmi.com/caselaws?id=66478 The Tribunal upheld the validity of the reassessment based on the omission of properties in the original return, supporting the department's reopening. The Tribunal rejected the assessee's arguments regarding the valuation in the partition deed and the applicability of Wealth-tax Rules retroactively. It was determined that the omission of properties justified the reopening, and the reassessment was deemed valid. The Tribunal directed the Wealth Tax Officer to apply rule 1BB in valuing the properties, ensuring that no property's value was less than the original assessment. The Tribunal partially allowed the assessee's appeal and dismissed the department's appeal, concluding the judgment. en-us Fri, 29 Aug 1986 00:00:00 +0530 Thu, 24 Feb 2011 18:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66478 The Tribunal upheld the validity of the reassessment based on the omission of properties in the original return, supporting the department's reopening. The Tribunal rejected the assessee's arguments regarding the valuation in the partition deed and the applicability of Wealth-tax Rules retroactively. It was determined that the omission of properties justified the reopening, and the reassessment was deemed valid. The Tribunal directed the Wealth Tax Officer to apply rule 1BB in valuing the properties, ensuring that no property's value was less than the original assessment. The Tribunal partially allowed the assessee's appeal and dismissed the department's appeal, concluding the judgment. Case-Laws Wealth-tax Fri, 29 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66478