https://www.taxtmi.com/caselaws?id=67370 Bank balances and interest standing in the wife's name were held outside the assessee's wealth-tax net from assessment year 1971-72 onwards, because the underlying property was claimed to have been genuinely gifted to her and accepted by the Department. The earlier view had treated the assessee as the real owner and included the related balances in net wealth, but it failed to consider this material contention. That omission was treated as a mistake apparent from the record, justifying correction of the earlier finding and exclusion of the wife's bank balances and interest from assessment. en-us Tue, 29 Nov 1983 00:00:00 +0530 Thu, 10 Mar 2011 12:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67370 Bank balances and interest standing in the wife's name were held outside the assessee's wealth-tax net from assessment year 1971-72 onwards, because the underlying property was claimed to have been genuinely gifted to her and accepted by the Department. The earlier view had treated the assessee as the real owner and included the related balances in net wealth, but it failed to consider this material contention. That omission was treated as a mistake apparent from the record, justifying correction of the earlier finding and exclusion of the wife's bank balances and interest from assessment. Case-Laws Wealth-tax Tue, 29 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67370