https://www.taxtmi.com/caselaws?id=362461 The Appellate Tribunal ITAT Visakhapatnam allowed the revenue's appeal for statistical purposes in a case concerning the assessment of wealth tax for the year 2007-08. The Tribunal remanded the case to the Assessing Officer for reconsideration regarding the deduction of the housing loan from the taxable net wealth, as the evidence related to the loan was not available during the initial assessment. The Tribunal directed the AO to properly consider the deduction of the loan, setting aside the order of the Commissioner of Wealth Tax (Appeals) and not addressing other grounds raised by the revenue. en-us Wed, 06 Jun 2018 00:00:00 +0530 Wed, 27 Jun 2018 07:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362461 The Appellate Tribunal ITAT Visakhapatnam allowed the revenue's appeal for statistical purposes in a case concerning the assessment of wealth tax for the year 2007-08. The Tribunal remanded the case to the Assessing Officer for reconsideration regarding the deduction of the housing loan from the taxable net wealth, as the evidence related to the loan was not available during the initial assessment. The Tribunal directed the AO to properly consider the deduction of the loan, setting aside the order of the Commissioner of Wealth Tax (Appeals) and not addressing other grounds raised by the revenue. Case-Laws Wealth-tax Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362461