https://www.taxtmi.com/caselaws?id=326179 The Tribunal partly allowed the appeal for statistical purposes. It upheld the Assessing Officer's jurisdiction to initiate proceedings under Section 17 of the Wealth-tax Act, 1957, dismissing the appellant's challenge. The matter of deduction of liabilities was remanded to the Assessing Officer for reevaluation with proper documentation. The issue of premature penalty proceedings initiation was not individually addressed, indicating agreement with the CWT(A)'s decision. en-us Fri, 18 Mar 2016 00:00:00 +0530 Fri, 08 Apr 2016 12:17:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326179 The Tribunal partly allowed the appeal for statistical purposes. It upheld the Assessing Officer's jurisdiction to initiate proceedings under Section 17 of the Wealth-tax Act, 1957, dismissing the appellant's challenge. The matter of deduction of liabilities was remanded to the Assessing Officer for reevaluation with proper documentation. The issue of premature penalty proceedings initiation was not individually addressed, indicating agreement with the CWT(A)'s decision. Case-Laws Wealth-tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326179