https://www.taxtmi.com/caselaws?id=375211 The Tribunal upheld the Assessing Officer's jurisdiction under the Wealth Tax Act, finding no error in reassessment proceedings. It dismissed the challenge on jurisdictional grounds, affirming the validity of the Deputy Commissioner's orders. Additionally, the Tribunal ruled that the Assessing Officer had obtained necessary approval before issuing the notice under section 17, rejecting the appellant's claim of void notice. Cash in hand was deemed a business asset, not taxable wealth, and exemption claims for properties were granted based on commercial usage and legal ownership evidence. The Tribunal upheld decisions where evidence was inadequate, emphasizing the need for substantiated submissions in assessment proceedings. en-us Thu, 14 Feb 2019 00:00:00 +0530 Sat, 16 Feb 2019 06:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375211 The Tribunal upheld the Assessing Officer's jurisdiction under the Wealth Tax Act, finding no error in reassessment proceedings. It dismissed the challenge on jurisdictional grounds, affirming the validity of the Deputy Commissioner's orders. Additionally, the Tribunal ruled that the Assessing Officer had obtained necessary approval before issuing the notice under section 17, rejecting the appellant's claim of void notice. Cash in hand was deemed a business asset, not taxable wealth, and exemption claims for properties were granted based on commercial usage and legal ownership evidence. The Tribunal upheld decisions where evidence was inadequate, emphasizing the need for substantiated submissions in assessment proceedings. Case-Laws Wealth-tax Thu, 14 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375211