https://www.taxtmi.com/caselaws?id=59289 The Tribunal upheld the cancellation of the Revenue's appeal regarding the assessment under section 16(5) of the Wealth Tax Act for the assessment year 1971-72. The assessment was deemed invalid due to discrepancies in the notice served on legal heirs and the deceased individual's assessment post-valuation date. The Tribunal emphasized that the deceased's demise before the valuation date rendered the assessment on his wealth improper, leading to the overall invalidity of the assessment despite arguments against this factor. The assessment was ultimately canceled on multiple grounds, including procedural irregularities and legal implications of the deceased's status. en-us Tue, 24 Feb 1987 00:00:00 +0530 Mon, 27 Dec 2010 16:20:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59289 The Tribunal upheld the cancellation of the Revenue's appeal regarding the assessment under section 16(5) of the Wealth Tax Act for the assessment year 1971-72. The assessment was deemed invalid due to discrepancies in the notice served on legal heirs and the deceased individual's assessment post-valuation date. The Tribunal emphasized that the deceased's demise before the valuation date rendered the assessment on his wealth improper, leading to the overall invalidity of the assessment despite arguments against this factor. The assessment was ultimately canceled on multiple grounds, including procedural irregularities and legal implications of the deceased's status. Case-Laws Wealth-tax Tue, 24 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59289