https://www.taxtmi.com/caselaws?id=187365 The High Court of Calcutta upheld the Tribunal's decision to adopt the written down value of fixed assets for wealth-tax assessment, emphasizing the importance of considering depreciation and making necessary adjustments to balance-sheet values to reflect the true value of assets. The judgment favored the assessee, directing that the question be answered in their favor and awarding costs of the reference to the assessee. en-us Fri, 29 Jan 1965 00:00:00 +0530 Wed, 19 Oct 2016 15:45:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187365 The High Court of Calcutta upheld the Tribunal's decision to adopt the written down value of fixed assets for wealth-tax assessment, emphasizing the importance of considering depreciation and making necessary adjustments to balance-sheet values to reflect the true value of assets. The judgment favored the assessee, directing that the question be answered in their favor and awarding costs of the reference to the assessee. Case-Laws Income Tax Fri, 29 Jan 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187365