https://www.taxtmi.com/caselaws?id=67071 The Appellate Tribunal ITAT Indore ruled in favor of the assessee in three appeals against the Revenue for assessment years 1974-75, 1975-76, and 1976-77. The Tribunal held that the assessments were not validly reopened under section 17(1)(b) of the Wealth Tax Act as there was no new information indicating wealth escaping assessment. The Tribunal emphasized the necessity of fresh information for reassessment and dismissed all appeals, upholding the quashing of assessments due to the lack of valid grounds for reopening. en-us Fri, 11 May 1984 00:00:00 +0530 Tue, 08 Mar 2011 18:51:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67071 The Appellate Tribunal ITAT Indore ruled in favor of the assessee in three appeals against the Revenue for assessment years 1974-75, 1975-76, and 1976-77. The Tribunal held that the assessments were not validly reopened under section 17(1)(b) of the Wealth Tax Act as there was no new information indicating wealth escaping assessment. The Tribunal emphasized the necessity of fresh information for reassessment and dismissed all appeals, upholding the quashing of assessments due to the lack of valid grounds for reopening. Case-Laws Wealth-tax Fri, 11 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67071