https://www.taxtmi.com/caselaws?id=26552 Undisclosed income reflected by intangible additions may be treated as assets for wealth-tax purposes because the statutory definition of assets extends to property of every description, including funds represented by such additions. Where the valuation dates are proximate to the assessment years and the assessee does not show that the secret profits ceased to be available, a presumption of continued availability can operate, especially when the relevant facts lie within the assessee's special knowledge. On that basis, the additions were held includible in net wealth on the relevant valuation dates and the reference was answered against the assessee. en-us Wed, 18 Sep 1985 00:00:00 +0530 Sat, 06 Feb 2010 10:15:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26552 Undisclosed income reflected by intangible additions may be treated as assets for wealth-tax purposes because the statutory definition of assets extends to property of every description, including funds represented by such additions. Where the valuation dates are proximate to the assessment years and the assessee does not show that the secret profits ceased to be available, a presumption of continued availability can operate, especially when the relevant facts lie within the assessee's special knowledge. On that basis, the additions were held includible in net wealth on the relevant valuation dates and the reference was answered against the assessee. Case-Laws Wealth-tax Wed, 18 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26552