https://www.taxtmi.com/caselaws?id=11647 The High Court upheld the decision of the Tribunal, ruling in favor of the Department and against the assessee, affirming the validity of the reopening of the assessment under section 17(1)(a) of the Wealth-tax Act, 1957. The Court found that there was a non-disclosure of material facts necessary for the assessment of the net wealth of the assessee, specifically regarding the loan secured against the exempt life policy, leading to the reassessment being deemed fully justified as per the provisions of the Act. en-us Thu, 16 Jan 2003 00:00:00 +0530 Thu, 04 Feb 2010 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11647 The High Court upheld the decision of the Tribunal, ruling in favor of the Department and against the assessee, affirming the validity of the reopening of the assessment under section 17(1)(a) of the Wealth-tax Act, 1957. The Court found that there was a non-disclosure of material facts necessary for the assessment of the net wealth of the assessee, specifically regarding the loan secured against the exempt life policy, leading to the reassessment being deemed fully justified as per the provisions of the Act. Case-Laws Wealth-tax Thu, 16 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11647