https://www.taxtmi.com/caselaws?id=8811 Reopening of wealth-tax assessments requires satisfaction of the statutory conditions applicable to the relevant clause. Under section 17(1)(a), reassessment cannot proceed where the assessee had disclosed the trust deed and other material facts, leaving no omission or failure of full and true disclosure. Under section 17(1)(b), information arising from the assessee's earlier income-tax position and treatment of trust income can support a belief that net wealth escaped assessment. However, clause (b) reopening is restricted to the prescribed four-year limitation period. Accordingly, reassessment notices for time-barred years were invalid, while the notice for assessment year 1966-67 remained sustainable. en-us Tue, 12 Sep 1972 00:00:00 +0530 Thu, 04 Jun 2009 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8811 Reopening of wealth-tax assessments requires satisfaction of the statutory conditions applicable to the relevant clause. Under section 17(1)(a), reassessment cannot proceed where the assessee had disclosed the trust deed and other material facts, leaving no omission or failure of full and true disclosure. Under section 17(1)(b), information arising from the assessee's earlier income-tax position and treatment of trust income can support a belief that net wealth escaped assessment. However, clause (b) reopening is restricted to the prescribed four-year limitation period. Accordingly, reassessment notices for time-barred years were invalid, while the notice for assessment year 1966-67 remained sustainable. Case-Laws Wealth-tax Tue, 12 Sep 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8811