https://www.taxtmi.com/caselaws?id=393905 The Tribunal remanded the appeals to the Assessing Officer to reconsider based on the amended provisions of the Wealth Tax Act exempting agricultural land from wealth tax retrospectively from 1.4.1993. The assessee was directed to seek refund from the Principal Commissioner under section 25 of the Act within a one-year timeline, in accordance with CBDT Circular No.11/2015. The Tribunal partially allowed the appeals due to the CIT (A) orders predating the Circular, emphasizing that taxes should align with the law and legitimate taxes due should only be collected. en-us Wed, 11 Mar 2020 00:00:00 +0530 Wed, 25 Mar 2020 11:08:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393905 The Tribunal remanded the appeals to the Assessing Officer to reconsider based on the amended provisions of the Wealth Tax Act exempting agricultural land from wealth tax retrospectively from 1.4.1993. The assessee was directed to seek refund from the Principal Commissioner under section 25 of the Act within a one-year timeline, in accordance with CBDT Circular No.11/2015. The Tribunal partially allowed the appeals due to the CIT (A) orders predating the Circular, emphasizing that taxes should align with the law and legitimate taxes due should only be collected. Case-Laws Wealth-tax Wed, 11 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393905