https://www.taxtmi.com/caselaws?id=60590 The Tribunal held that income-tax refunds should be included in the net wealth of the assessees as they were ascertainable on the valuation dates. The Commissioner's decision to exclude the refunds was overturned, aligning with the principle that ultimate tax liabilities, including refunds, should be considered in computing net wealth based on Supreme Court precedents. The Tribunal's ruling emphasized the application of Section 2(m) of the Wealth-tax Act and various judicial precedents supporting the inclusion of liabilities even if quantified after the valuation date. en-us Wed, 08 Feb 1984 00:00:00 +0530 Fri, 07 Jan 2011 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60590 The Tribunal held that income-tax refunds should be included in the net wealth of the assessees as they were ascertainable on the valuation dates. The Commissioner's decision to exclude the refunds was overturned, aligning with the principle that ultimate tax liabilities, including refunds, should be considered in computing net wealth based on Supreme Court precedents. The Tribunal's ruling emphasized the application of Section 2(m) of the Wealth-tax Act and various judicial precedents supporting the inclusion of liabilities even if quantified after the valuation date. Case-Laws Wealth-tax Wed, 08 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60590