https://www.taxtmi.com/caselaws?id=199830 The Tribunal dismissed the appeal for the assessment year 2009-10, upholding the Commissioner's revision order under section 25(1) of the Wealth Tax Act due to non-imposition of penalty for concealment. For the assessment year 2010-11, the Tribunal allowed the appeal, canceling the Commissioner's revision order as the cash seized during a search operation was not includable in the net wealth of the assessee. The case emphasizes the significance of thorough reasoning in tax orders and the treatment of seized cash in wealth tax assessments. en-us Fri, 20 May 2016 00:00:00 +0530 Tue, 13 Mar 2018 21:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199830 The Tribunal dismissed the appeal for the assessment year 2009-10, upholding the Commissioner's revision order under section 25(1) of the Wealth Tax Act due to non-imposition of penalty for concealment. For the assessment year 2010-11, the Tribunal allowed the appeal, canceling the Commissioner's revision order as the cash seized during a search operation was not includable in the net wealth of the assessee. The case emphasizes the significance of thorough reasoning in tax orders and the treatment of seized cash in wealth tax assessments. Case-Laws Wealth-tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199830