https://www.taxtmi.com/caselaws?id=68037 The Tribunal dismissed the Department's appeals and allowed the cross-objections filed by the assessee. The Tribunal found no merit in the Department's appeal regarding the adjustment in the value of an asset disclosed in the balance sheet, upheld the claim for exemption under s. 5(1)(xxxii) of the Wt Act, 1957, and allowed the assessee's entitlement to proportionate liability on tax levied following reassessments. The Tribunal relied on legal precedents and established principles in reaching its decision, directing the adjustment of net wealth-tax computation in favor of the assessee. en-us Tue, 11 Feb 1992 00:00:00 +0530 Wed, 16 Mar 2011 15:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68037 The Tribunal dismissed the Department's appeals and allowed the cross-objections filed by the assessee. The Tribunal found no merit in the Department's appeal regarding the adjustment in the value of an asset disclosed in the balance sheet, upheld the claim for exemption under s. 5(1)(xxxii) of the Wt Act, 1957, and allowed the assessee's entitlement to proportionate liability on tax levied following reassessments. The Tribunal relied on legal precedents and established principles in reaching its decision, directing the adjustment of net wealth-tax computation in favor of the assessee. Case-Laws Wealth-tax Tue, 11 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68037