https://www.taxtmi.com/caselaws?id=37591 Reassessment under Section 17 of the Wealth-tax Act is confined to bringing to tax escaped net wealth and does not allow an assessee to reopen a completed assessment to seek exclusion of an item already included in the original computation. Where the assessment has attained finality, the reassessment stage cannot be used to advance a fresh claim omitted earlier, because that would enlarge the limited reassessment jurisdiction. On that reasoning, the authority had no jurisdiction to consider exclusion of the item at the reassessment stage, and the issue was decided against the assessee. en-us Sat, 17 Jun 1978 00:00:00 +0530 Tue, 30 Mar 2010 16:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37591 Reassessment under Section 17 of the Wealth-tax Act is confined to bringing to tax escaped net wealth and does not allow an assessee to reopen a completed assessment to seek exclusion of an item already included in the original computation. Where the assessment has attained finality, the reassessment stage cannot be used to advance a fresh claim omitted earlier, because that would enlarge the limited reassessment jurisdiction. On that reasoning, the authority had no jurisdiction to consider exclusion of the item at the reassessment stage, and the issue was decided against the assessee. Case-Laws Wealth-tax Sat, 17 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37591