https://www.taxtmi.com/caselaws?id=17688 The court quashed the reassessment notices issued under section 17 of the Wealth-tax Act, 1957, due to lack of jurisdiction and being barred by limitation. The petitioners successfully argued that the valuation made by the Valuation Officer under section 16A was binding on the Wealth-tax Officer, and no right to revise such valuation existed under section 17. The court found that the reassessment notices were beyond the permissible period as there was no failure by the assessee to disclose necessary facts. The writ petitions were allowed, and the oral application for leave to appeal to the Supreme Court was refused. en-us Thu, 21 Nov 1996 00:00:00 +0530 Thu, 24 Sep 2009 11:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17688 The court quashed the reassessment notices issued under section 17 of the Wealth-tax Act, 1957, due to lack of jurisdiction and being barred by limitation. The petitioners successfully argued that the valuation made by the Valuation Officer under section 16A was binding on the Wealth-tax Officer, and no right to revise such valuation existed under section 17. The court found that the reassessment notices were beyond the permissible period as there was no failure by the assessee to disclose necessary facts. The writ petitions were allowed, and the oral application for leave to appeal to the Supreme Court was refused. Case-Laws Wealth-tax Thu, 21 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17688