https://www.taxtmi.com/caselaws?id=20669 The court upheld the decision to quash the reassessment proceedings under section 17(1)(b) of the Wealth-tax Act for the assessment years 1970-71 and 1971-72. The reassessment was deemed null and void due to the timing of the reference to the Valuation Cell, which occurred after the completion of the original assessments. The court emphasized that the Wealth-tax Officer loses jurisdiction to make such a reference once the assessment is finalized, following established case law. The ruling aligned with precedents from various High Courts, emphasizing that errors by authorities do not excuse taxpayers from fulfilling their tax obligations. en-us Tue, 30 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 15:11:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20669 The court upheld the decision to quash the reassessment proceedings under section 17(1)(b) of the Wealth-tax Act for the assessment years 1970-71 and 1971-72. The reassessment was deemed null and void due to the timing of the reference to the Valuation Cell, which occurred after the completion of the original assessments. The court emphasized that the Wealth-tax Officer loses jurisdiction to make such a reference once the assessment is finalized, following established case law. The ruling aligned with precedents from various High Courts, emphasizing that errors by authorities do not excuse taxpayers from fulfilling their tax obligations. Case-Laws Wealth-tax Tue, 30 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20669