https://www.taxtmi.com/caselaws?id=56947 The Third Member, concurring with the Judicial Member, held that Section 7(4) of the Wealth-tax Act should be applied retrospectively to assessment years 1973-74, 1974-75, and 1975-76. The valuation of the residential property and agricultural lands was remanded for reassessment, and the issue of inherited assets was referred back to the AAC for further review. The appeals were allowed for statistical purposes, with instructions for re-evaluation and detailed consideration of specific claims. en-us Fri, 28 Jan 1983 00:00:00 +0530 Tue, 07 Dec 2010 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56947 The Third Member, concurring with the Judicial Member, held that Section 7(4) of the Wealth-tax Act should be applied retrospectively to assessment years 1973-74, 1974-75, and 1975-76. The valuation of the residential property and agricultural lands was remanded for reassessment, and the issue of inherited assets was referred back to the AAC for further review. The appeals were allowed for statistical purposes, with instructions for re-evaluation and detailed consideration of specific claims. Case-Laws Wealth-tax Fri, 28 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56947