https://www.taxtmi.com/caselaws?id=70232 Reassessment under Section 17(1)(b) of the Wealth-tax Act cannot be used to review an original assessment on material already on record. An audit note that merely draws attention to higher property values disclosed in earlier years, without providing new information or expressing a legal opinion, does not justify reassessment. Applying the principle that reassessment is not a mechanism for re-evaluating the same evidence, the reassessments based on the audit note were treated as invalid and their cancellation was sustained. en-us Fri, 28 Jan 1983 00:00:00 +0530 Fri, 15 Apr 2011 10:06:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70232 Reassessment under Section 17(1)(b) of the Wealth-tax Act cannot be used to review an original assessment on material already on record. An audit note that merely draws attention to higher property values disclosed in earlier years, without providing new information or expressing a legal opinion, does not justify reassessment. Applying the principle that reassessment is not a mechanism for re-evaluating the same evidence, the reassessments based on the audit note were treated as invalid and their cancellation was sustained. Case-Laws Wealth-tax Fri, 28 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70232