https://www.taxtmi.com/caselaws?id=22338 The Court upheld the Tribunal's decision that reassessment was not warranted for the assessment years 1965-66 to 1969-70 under the Wealth-tax Act as the assessee had disclosed the asset and its value during the original assessment, and the mere discovery of a higher value later was not sufficient grounds for reassessment. The Court also validated the quashing of assessment orders and the direction to estimate property values, agreeing that the reassessment was not justified. Furthermore, the Court upheld the Tribunal's decision that the reassessment concerning mining lease rights and the Katghar house was not warranted based on the facts presented in the case record. en-us Tue, 19 Feb 1991 00:00:00 +0530 Wed, 09 Dec 2009 12:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22338 The Court upheld the Tribunal's decision that reassessment was not warranted for the assessment years 1965-66 to 1969-70 under the Wealth-tax Act as the assessee had disclosed the asset and its value during the original assessment, and the mere discovery of a higher value later was not sufficient grounds for reassessment. The Court also validated the quashing of assessment orders and the direction to estimate property values, agreeing that the reassessment was not justified. Furthermore, the Court upheld the Tribunal's decision that the reassessment concerning mining lease rights and the Katghar house was not warranted based on the facts presented in the case record. Case-Laws Wealth-tax Tue, 19 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22338