https://www.taxtmi.com/caselaws?id=69111 The Appellate Tribunal held that the reassessments initiated under section 17 of the Wealth-tax Act for the assessment years 1971-72 to 1974-75 were invalid. It was determined that there was no fresh material to support the reassessments, and the Valuation Officer's report did not provide new facts warranting the reopening of assessments. Consequently, the reassessments for all four years were deemed invalid, with the cancellations upheld for 1971-72 and 1972-73, and the reassessments for 1973-74 and 1974-75 annulled. The revenue's appeals were dismissed, while the assessee's appeals were allowed. en-us Tue, 20 Oct 1981 00:00:00 +0530 Tue, 05 Apr 2011 12:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69111 The Appellate Tribunal held that the reassessments initiated under section 17 of the Wealth-tax Act for the assessment years 1971-72 to 1974-75 were invalid. It was determined that there was no fresh material to support the reassessments, and the Valuation Officer's report did not provide new facts warranting the reopening of assessments. Consequently, the reassessments for all four years were deemed invalid, with the cancellations upheld for 1971-72 and 1972-73, and the reassessments for 1973-74 and 1974-75 annulled. The revenue's appeals were dismissed, while the assessee's appeals were allowed. Case-Laws Wealth-tax Tue, 20 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69111