https://www.taxtmi.com/caselaws?id=362504 The case involved a dispute over the assessment of wealth tax on a property previously sold by the assessee. The Assessing Officer (AO) assessed the wealth tax based on ownership as of 31-03-2007, despite the property being sold earlier. The Income Tax Appellate Tribunal (ITAT) held that the property was no longer owned by the assessee as of the relevant date, overturning the previous decisions. The ITAT emphasized the importance of consistency in tax assessments for the same property across different assessment years, ruling in favor of the assessee and setting aside the earlier assessments under the Wealth Tax Act. en-us Fri, 06 Apr 2018 00:00:00 +0530 Thu, 28 Jun 2018 10:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362504 The case involved a dispute over the assessment of wealth tax on a property previously sold by the assessee. The Assessing Officer (AO) assessed the wealth tax based on ownership as of 31-03-2007, despite the property being sold earlier. The Income Tax Appellate Tribunal (ITAT) held that the property was no longer owned by the assessee as of the relevant date, overturning the previous decisions. The ITAT emphasized the importance of consistency in tax assessments for the same property across different assessment years, ruling in favor of the assessee and setting aside the earlier assessments under the Wealth Tax Act. Case-Laws Wealth-tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362504