https://www.taxtmi.com/caselaws?id=69827 The Tribunal upheld the validity of reassessments made under section 17 of the Wealth Tax Act, emphasizing the importance of valid information supporting the belief of escapement of wealth. The evaluation of law by the WTO based on the audit report was deemed sufficient grounds for initiating reassessment proceedings, overriding the AAC's decision. The appeals by the revenue were allowed, and the orders were set aside for fresh disposal in accordance with the law. en-us Fri, 25 Feb 1983 00:00:00 +0530 Tue, 12 Apr 2011 12:37:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69827 The Tribunal upheld the validity of reassessments made under section 17 of the Wealth Tax Act, emphasizing the importance of valid information supporting the belief of escapement of wealth. The evaluation of law by the WTO based on the audit report was deemed sufficient grounds for initiating reassessment proceedings, overriding the AAC's decision. The appeals by the revenue were allowed, and the orders were set aside for fresh disposal in accordance with the law. Case-Laws Wealth-tax Fri, 25 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69827