https://www.taxtmi.com/caselaws?id=4176 The High Court upheld the Tribunal's decision to cancel the assessment, affirming that the requirement of issuing a notice under Section 16(2) within the stipulated time frame is mandatory for reassessment proceedings under Section 17. The Court emphasized the need for uniformity and certainty in the application of the provisions of Chapter IV of the Wealth Tax Act, ensuring that the procedural safeguards provided in Sections 14 to 16 are not bypassed in reassessment cases. Consequently, the appeal by the Revenue was dismissed. en-us Tue, 05 Feb 2008 00:00:00 +0530 Thu, 02 Jul 2026 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4176 The High Court upheld the Tribunal's decision to cancel the assessment, affirming that the requirement of issuing a notice under Section 16(2) within the stipulated time frame is mandatory for reassessment proceedings under Section 17. The Court emphasized the need for uniformity and certainty in the application of the provisions of Chapter IV of the Wealth Tax Act, ensuring that the procedural safeguards provided in Sections 14 to 16 are not bypassed in reassessment cases. Consequently, the appeal by the Revenue was dismissed. Case-Laws Wealth-tax Tue, 05 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4176