https://www.taxtmi.com/caselaws?id=151797 The Tribunal upheld the validity of the reassessment notice issued to the amalgamated company under section 17 of the Wealth-tax Act, noting that the Assessing Officer had jurisdiction to proceed against the successor company. The reassessment was deemed not based on a mere change of opinion as the appellant failed to fully disclose material facts necessary for assessment. Additionally, the Tribunal upheld the inclusion of the value of immovable assets in the assessee's net wealth, rejecting arguments that certain properties were used for business purposes. The appeal was dismissed, affirming the Commissioner of Wealth-tax (Appeals)'s decisions on all issues. en-us Mon, 22 Nov 2004 00:00:00 +0530 Mon, 17 Jun 2013 10:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151797 The Tribunal upheld the validity of the reassessment notice issued to the amalgamated company under section 17 of the Wealth-tax Act, noting that the Assessing Officer had jurisdiction to proceed against the successor company. The reassessment was deemed not based on a mere change of opinion as the appellant failed to fully disclose material facts necessary for assessment. Additionally, the Tribunal upheld the inclusion of the value of immovable assets in the assessee's net wealth, rejecting arguments that certain properties were used for business purposes. The appeal was dismissed, affirming the Commissioner of Wealth-tax (Appeals)'s decisions on all issues. Case-Laws Income Tax Mon, 22 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151797