https://www.taxtmi.com/caselaws?id=70642 The Tribunal upheld the reassessment orders under Section 17 of the Wealth Tax Act, refusing to exclude the value of non-agricultural lands from the net wealth of the assessee, M/s Soundararaja Mills Ltd. The original assessments were finalized, and the Tribunal held that the appellant could not re-agitate matters concluded in the original assessment during reassessment. The Tribunal rejected the argument that revised returns under the Amnesty Scheme should be accepted without further inquiry, stating that the assessing authority is not bound to accept such returns without verification. The appeals were dismissed, and the reassessment orders including the value of the lands were upheld. en-us Fri, 23 Sep 1988 00:00:00 +0530 Mon, 18 Apr 2011 12:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70642 The Tribunal upheld the reassessment orders under Section 17 of the Wealth Tax Act, refusing to exclude the value of non-agricultural lands from the net wealth of the assessee, M/s Soundararaja Mills Ltd. The original assessments were finalized, and the Tribunal held that the appellant could not re-agitate matters concluded in the original assessment during reassessment. The Tribunal rejected the argument that revised returns under the Amnesty Scheme should be accepted without further inquiry, stating that the assessing authority is not bound to accept such returns without verification. The appeals were dismissed, and the reassessment orders including the value of the lands were upheld. Case-Laws Income Tax Fri, 23 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70642