https://www.taxtmi.com/caselaws?id=10910 The court upheld the validity of reassessment proceedings under section 17 of the Wealth-tax Act, 1957, in an appeal against the Income-tax Appellate Tribunal's order. The reassessment was justified due to the under-valuation of immovable property, resulting in an escapement of wealth. The appellant's challenges regarding full disclosure of material facts and the validity of the notice were dismissed. The court emphasized the correct recording of reasons for reassessment and deemed the Tribunal's decision as justified. Consequently, the appeal was dismissed, affirming the validity of the reassessment proceedings. en-us Thu, 18 Mar 2004 00:00:00 +0530 Mon, 27 Jul 2009 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10910 The court upheld the validity of reassessment proceedings under section 17 of the Wealth-tax Act, 1957, in an appeal against the Income-tax Appellate Tribunal's order. The reassessment was justified due to the under-valuation of immovable property, resulting in an escapement of wealth. The appellant's challenges regarding full disclosure of material facts and the validity of the notice were dismissed. The court emphasized the correct recording of reasons for reassessment and deemed the Tribunal's decision as justified. Consequently, the appeal was dismissed, affirming the validity of the reassessment proceedings. Case-Laws Wealth-tax Thu, 18 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10910