https://www.taxtmi.com/caselaws?id=61218 The Appellate Tribunal ITAT Chandigarh ruled in favor of the assessee in appeals against the AAC's order for assessment years 1968-69 to 1971-72. The Tribunal found no justification for the WTO's reassessment proceedings based on valuation reports, as the reassessments lacked clear reasons under the Wealth Tax Act. Reassessments were deemed invalid as the WTO failed to establish necessary grounds and relied on collateral factors without proper legal basis. The Tribunal emphasized that previous similar reassessments by the WTO were dropped, highlighting the invalidity of the reassessments in question. en-us Thu, 02 Sep 1982 00:00:00 +0530 Tue, 11 Jan 2011 13:28:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61218 The Appellate Tribunal ITAT Chandigarh ruled in favor of the assessee in appeals against the AAC's order for assessment years 1968-69 to 1971-72. The Tribunal found no justification for the WTO's reassessment proceedings based on valuation reports, as the reassessments lacked clear reasons under the Wealth Tax Act. Reassessments were deemed invalid as the WTO failed to establish necessary grounds and relied on collateral factors without proper legal basis. The Tribunal emphasized that previous similar reassessments by the WTO were dropped, highlighting the invalidity of the reassessments in question. Case-Laws Wealth-tax Thu, 02 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61218