https://www.taxtmi.com/caselaws?id=12103 Motor cars held as stock-in-trade were treated as includible in net wealth for the relevant assessment year because the unamended statutory text specifically brought motor cars within wealth-tax and the later exclusion of stock-in-trade was not retrospective. The main issue was therefore decided in favour of the Revenue. On the separate factual question, the record had not been examined as to whether some cars were actually sold during the year and what value should be excluded for cars no longer in stock, so the matter was remitted for limited re-determination of sales and valuation. en-us Thu, 05 Sep 2002 00:00:00 +0530 Thu, 13 Aug 2015 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12103 Motor cars held as stock-in-trade were treated as includible in net wealth for the relevant assessment year because the unamended statutory text specifically brought motor cars within wealth-tax and the later exclusion of stock-in-trade was not retrospective. The main issue was therefore decided in favour of the Revenue. On the separate factual question, the record had not been examined as to whether some cars were actually sold during the year and what value should be excluded for cars no longer in stock, so the matter was remitted for limited re-determination of sales and valuation. Case-Laws Income Tax Thu, 05 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12103