https://www.taxtmi.com/caselaws?id=15250 Section 17(1)(a) of the Wealth-tax Act applied where the assessee's return declared that no member of the Hindu undivided family owned wealth of the prescribed amount, but the assessing authority later found assessable wealth existed. The declaration did not bar reassessment, because the lower-rate condition required verification of the members' wealth position and could be reopened when that foundation proved incorrect. The Court applied the same reasoning it had earlier used on a comparable Income-tax Act rate issue and upheld the reopening as within jurisdiction, in favour of the Revenue. en-us Mon, 20 Sep 1999 00:00:00 +0530 Tue, 04 Aug 2009 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15250 Section 17(1)(a) of the Wealth-tax Act applied where the assessee's return declared that no member of the Hindu undivided family owned wealth of the prescribed amount, but the assessing authority later found assessable wealth existed. The declaration did not bar reassessment, because the lower-rate condition required verification of the members' wealth position and could be reopened when that foundation proved incorrect. The Court applied the same reasoning it had earlier used on a comparable Income-tax Act rate issue and upheld the reopening as within jurisdiction, in favour of the Revenue. Case-Laws Wealth-tax Mon, 20 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15250