https://www.taxtmi.com/caselaws?id=60356 The Tribunal upheld the decision that the reopening of assessments under section 17(1)(a) was not justified as the assessee had disclosed all primary facts fully and truly. It was held that the capital gain of Rs. 24,330 was not to be included in the net wealth. The Tribunal emphasized that the assessee had no legal obligation to disclose subsequent transactions beyond the original gift, as there was no specific requirement in the return form. As a result, the assessments by the Wealth Tax Officer were rightly cancelled, and all departmental appeals were dismissed. en-us Mon, 22 Dec 1986 00:00:00 +0530 Tue, 04 Jan 2011 17:50:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60356 The Tribunal upheld the decision that the reopening of assessments under section 17(1)(a) was not justified as the assessee had disclosed all primary facts fully and truly. It was held that the capital gain of Rs. 24,330 was not to be included in the net wealth. The Tribunal emphasized that the assessee had no legal obligation to disclose subsequent transactions beyond the original gift, as there was no specific requirement in the return form. As a result, the assessments by the Wealth Tax Officer were rightly cancelled, and all departmental appeals were dismissed. Case-Laws Wealth-tax Mon, 22 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60356