https://www.taxtmi.com/caselaws?id=188914 The case involved a dispute over the validity of assessment orders for the assessment years 1971-72 to 1974-75 under the Wealth-tax Act. The key issue was whether the assessment orders and demand notices were issued within the period of limitation. The Court emphasized that both the determination of net wealth and the computation of tax liability must be completed before the limitation period expires for the assessment to be valid. The case was remanded to the Tribunal for further examination in light of the Court's clarification on the legal principles regarding assessment completion within the limitation period. en-us Wed, 16 Dec 1998 00:00:00 +0530 Tue, 20 Dec 2016 17:01:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188914 The case involved a dispute over the validity of assessment orders for the assessment years 1971-72 to 1974-75 under the Wealth-tax Act. The key issue was whether the assessment orders and demand notices were issued within the period of limitation. The Court emphasized that both the determination of net wealth and the computation of tax liability must be completed before the limitation period expires for the assessment to be valid. The case was remanded to the Tribunal for further examination in light of the Court's clarification on the legal principles regarding assessment completion within the limitation period. Case-Laws Income Tax Wed, 16 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188914