https://www.taxtmi.com/caselaws?id=259069 The Tribunal allowed the appeals filed by the assessee challenging the reopening of assessments under the Wealth-tax Act and the valuation of cars for wealth-tax purposes. The Tribunal directed the Assessing Officer to accept the declared value of cars based on insurance value, contrary to the written down value method applied by the Assessing Officer and upheld by the Commissioner of Wealth-tax (Appeals). The Tribunal's decision aligned with previous tribunal rulings on similar cases, leading to the allowance of the appeals in favor of the assessee. en-us Wed, 24 Jul 2013 00:00:00 +0530 Tue, 28 Apr 2015 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259069 The Tribunal allowed the appeals filed by the assessee challenging the reopening of assessments under the Wealth-tax Act and the valuation of cars for wealth-tax purposes. The Tribunal directed the Assessing Officer to accept the declared value of cars based on insurance value, contrary to the written down value method applied by the Assessing Officer and upheld by the Commissioner of Wealth-tax (Appeals). The Tribunal's decision aligned with previous tribunal rulings on similar cases, leading to the allowance of the appeals in favor of the assessee. Case-Laws Wealth-tax Wed, 24 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259069