https://www.taxtmi.com/caselaws?id=199800 The appeal arose from the Commissioner of Wealth-tax (Appeals) order confirming the addition of unexplained cash seized by the crime branch. The Assessing Officer added the cash amount to the wealth-tax assessment based on an income-tax assessment. However, upon examination, it was found that the cash was converted into Fixed Deposit Receipts (FDRs) and subsequently credited to the assessee's bank account. As the Wealth-tax Act does not explicitly include FDRs as assets, the FDR was excluded from the assessee's net wealth. Consequently, the appeal was allowed, and the addition was deleted. en-us Tue, 29 Nov 2011 00:00:00 +0530 Wed, 14 Mar 2018 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199800 The appeal arose from the Commissioner of Wealth-tax (Appeals) order confirming the addition of unexplained cash seized by the crime branch. The Assessing Officer added the cash amount to the wealth-tax assessment based on an income-tax assessment. However, upon examination, it was found that the cash was converted into Fixed Deposit Receipts (FDRs) and subsequently credited to the assessee's bank account. As the Wealth-tax Act does not explicitly include FDRs as assets, the FDR was excluded from the assessee's net wealth. Consequently, the appeal was allowed, and the addition was deleted. Case-Laws Income Tax Tue, 29 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199800