https://www.taxtmi.com/caselaws?id=217396 The Apex Court allowed the Tax Case Appeal, overturning the Income Tax Appellate Tribunal's decision. It held that the advance fees received by the assessee should be considered assets for wealth tax assessment purposes, irrespective of the accounting method used. The Court emphasized that the value of assets should be based on estimated open market value, including rights accruing to the assessee. en-us Tue, 12 Jun 2012 00:00:00 +0530 Fri, 12 Oct 2012 21:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217396 The Apex Court allowed the Tax Case Appeal, overturning the Income Tax Appellate Tribunal's decision. It held that the advance fees received by the assessee should be considered assets for wealth tax assessment purposes, irrespective of the accounting method used. The Court emphasized that the value of assets should be based on estimated open market value, including rights accruing to the assessee. Case-Laws Wealth-tax Tue, 12 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217396