https://www.taxtmi.com/caselaws?id=29032 The Court ruled in favor of rectification under section 35 of the Wealth-tax Act, emphasizing the retrospective application of legislative amendments and the Appellate Assistant Commissioner's authority to correct erroneous assessments. The judgment highlighted the importance of considering the nature of assets involved in the rectification process and upheld the decision to cancel the exemption granted for jewellery intended for personal use. en-us Tue, 06 Jan 1981 00:00:00 +0530 Wed, 10 Mar 2010 13:12:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29032 The Court ruled in favor of rectification under section 35 of the Wealth-tax Act, emphasizing the retrospective application of legislative amendments and the Appellate Assistant Commissioner's authority to correct erroneous assessments. The judgment highlighted the importance of considering the nature of assets involved in the rectification process and upheld the decision to cancel the exemption granted for jewellery intended for personal use. Case-Laws Wealth-tax Tue, 06 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29032