https://www.taxtmi.com/caselaws?id=28113 The court upheld the jurisdiction and legality of the notice issued under section 17 of the Wealth-tax Act, 1957, finding that the Wealth-tax Officer had valid reasons to believe that the assessee failed to disclose all material facts regarding the value of shares. The court determined that the reopening of the assessment was valid as it was based on new information received in the course of official duties. Previous judicial precedents cited by the petitioner were distinguished, and the court dismissed the application, allowing the assessment to proceed based on the new information provided. en-us Thu, 12 May 1983 00:00:00 +0530 Fri, 19 Feb 2010 11:13:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28113 The court upheld the jurisdiction and legality of the notice issued under section 17 of the Wealth-tax Act, 1957, finding that the Wealth-tax Officer had valid reasons to believe that the assessee failed to disclose all material facts regarding the value of shares. The court determined that the reopening of the assessment was valid as it was based on new information received in the course of official duties. Previous judicial precedents cited by the petitioner were distinguished, and the court dismissed the application, allowing the assessment to proceed based on the new information provided. Case-Laws Wealth-tax Thu, 12 May 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28113