https://www.taxtmi.com/caselaws?id=21533 The court upheld the Tribunal's decision to delete additions made by the Wealth-tax Officer, ruling in favor of the assessee. The judgment emphasized that the Revenue must prove the market value exceeds the declared value by 20% to apply rule 2B(2) of the Wealth-tax Rules. Failure to meet this burden led to the Tribunal's decision being deemed justified, providing clarity on interpreting the rule and highlighting the necessity of meeting the burden of proof in wealth tax assessments. en-us Fri, 03 Apr 1992 00:00:00 +0530 Wed, 25 Nov 2009 12:02:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21533 The court upheld the Tribunal's decision to delete additions made by the Wealth-tax Officer, ruling in favor of the assessee. The judgment emphasized that the Revenue must prove the market value exceeds the declared value by 20% to apply rule 2B(2) of the Wealth-tax Rules. Failure to meet this burden led to the Tribunal's decision being deemed justified, providing clarity on interpreting the rule and highlighting the necessity of meeting the burden of proof in wealth tax assessments. Case-Laws Wealth-tax Fri, 03 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21533