https://www.taxtmi.com/caselaws?id=21084 The Tribunal held that the Commissioner of Wealth-tax lacked jurisdiction to revise the assessment based on subsequent property sale, emphasizing adherence to original assessment records. It was determined that no material evidence supported the claim of erroneous assessments by the Wealth-tax Officer. Market value was correctly assessed under relevant legal provisions, considering rental income and property restrictions. The Tribunal's decision favored the assessee, affirming the assessments' validity and upholding the determination of market value, leading to a favorable outcome for the assessee. en-us Fri, 19 Apr 1991 00:00:00 +0530 Thu, 19 Nov 2009 18:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21084 The Tribunal held that the Commissioner of Wealth-tax lacked jurisdiction to revise the assessment based on subsequent property sale, emphasizing adherence to original assessment records. It was determined that no material evidence supported the claim of erroneous assessments by the Wealth-tax Officer. Market value was correctly assessed under relevant legal provisions, considering rental income and property restrictions. The Tribunal's decision favored the assessee, affirming the assessments' validity and upholding the determination of market value, leading to a favorable outcome for the assessee. Case-Laws Wealth-tax Fri, 19 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21084