https://www.taxtmi.com/caselaws?id=25371 The Tribunal upheld the Wealth-tax Officer's jurisdiction to make fresh assessments for multiple years, allowing inclusion of previously unconsidered items and reassessment of exemption claims. The court ruled that wealth held by the assessee-trust did not qualify for exemption under section 5(1)(i) due to the trust's dominant non-charitable purpose. Additionally, the Tribunal's decision to include items not originally assessed during reassessments was affirmed. The method of valuation for properties occupied by tenants, based on the approved valuer's report, was upheld. A separate judgment disagreed with the majority view, arguing that income for public charitable purposes should be exempt from wealth-tax. en-us Mon, 06 Apr 1987 00:00:00 +0530 Thu, 28 Jan 2010 12:02:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25371 The Tribunal upheld the Wealth-tax Officer's jurisdiction to make fresh assessments for multiple years, allowing inclusion of previously unconsidered items and reassessment of exemption claims. The court ruled that wealth held by the assessee-trust did not qualify for exemption under section 5(1)(i) due to the trust's dominant non-charitable purpose. Additionally, the Tribunal's decision to include items not originally assessed during reassessments was affirmed. The method of valuation for properties occupied by tenants, based on the approved valuer's report, was upheld. A separate judgment disagreed with the majority view, arguing that income for public charitable purposes should be exempt from wealth-tax. Case-Laws Wealth-tax Mon, 06 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25371