https://www.taxtmi.com/caselaws?id=347176 The High Court upheld the Tribunal's decision in the case, emphasizing the impermissibility of the notice issued under Section 17 of the Wealth Tax Act for reopening the assessment. The Court highlighted that the reason for reopening must be current and not based on the assessee's stance in other proceedings. As the satisfaction required under Section 17 was found lacking, the Appeal was dismissed without costs. Additionally, the Tribunal's decision to delete a protective addition made by the Assessing Officer was upheld due to insufficient justification for bringing certain transactions under the Wealth Tax Act. en-us Mon, 21 Aug 2017 00:00:00 +0530 Wed, 30 Aug 2017 07:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347176 The High Court upheld the Tribunal's decision in the case, emphasizing the impermissibility of the notice issued under Section 17 of the Wealth Tax Act for reopening the assessment. The Court highlighted that the reason for reopening must be current and not based on the assessee's stance in other proceedings. As the satisfaction required under Section 17 was found lacking, the Appeal was dismissed without costs. Additionally, the Tribunal's decision to delete a protective addition made by the Assessing Officer was upheld due to insufficient justification for bringing certain transactions under the Wealth Tax Act. Case-Laws Wealth-tax Mon, 21 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347176