https://www.taxtmi.com/caselaws?id=61285 The Appellate Tribunal ITAT Chandigarh ruled in favor of the assessee, holding that the Valuation Officer's report obtained after the original assessment could not justify reassessment proceedings under section 17 (1) (b) of the Wealth Tax Act, 1957. The Tribunal emphasized that the Valuation Officer's report did not constitute 'information' warranting reassessment and deemed the proceedings void ab initio. Citing principles from the Supreme Court and a judgment from the Rajasthan High Court, the Tribunal concluded that the reassessment was legally flawed and upheld the cancellation of the reassessment by the AAC, dismissing the appeal. en-us Thu, 24 Mar 1983 00:00:00 +0530 Wed, 12 Jan 2011 10:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61285 The Appellate Tribunal ITAT Chandigarh ruled in favor of the assessee, holding that the Valuation Officer's report obtained after the original assessment could not justify reassessment proceedings under section 17 (1) (b) of the Wealth Tax Act, 1957. The Tribunal emphasized that the Valuation Officer's report did not constitute 'information' warranting reassessment and deemed the proceedings void ab initio. Citing principles from the Supreme Court and a judgment from the Rajasthan High Court, the Tribunal concluded that the reassessment was legally flawed and upheld the cancellation of the reassessment by the AAC, dismissing the appeal. Case-Laws Wealth-tax Thu, 24 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61285