https://www.taxtmi.com/caselaws?id=10416 The court dismissed the appeal challenging the validity of reassessment proceedings for the assessment year 1983-84 under the Wealth-tax Act, 1957. The Tribunal's decision to quash the reassessment was upheld as the notice issued in March 1994 was found to be beyond the four-year limitation period, rendering it void. The court emphasized that the Assessing Officer's jurisdiction to initiate proceedings after the four-year period was limited to cases where the assessee failed to disclose necessary facts, which was not the situation in this case. The reassessment based on a higher valuation was deemed invalid. en-us Mon, 05 Jul 2004 00:00:00 +0530 Wed, 15 Jul 2009 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10416 The court dismissed the appeal challenging the validity of reassessment proceedings for the assessment year 1983-84 under the Wealth-tax Act, 1957. The Tribunal's decision to quash the reassessment was upheld as the notice issued in March 1994 was found to be beyond the four-year limitation period, rendering it void. The court emphasized that the Assessing Officer's jurisdiction to initiate proceedings after the four-year period was limited to cases where the assessee failed to disclose necessary facts, which was not the situation in this case. The reassessment based on a higher valuation was deemed invalid. Case-Laws Wealth-tax Mon, 05 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10416