https://www.taxtmi.com/caselaws?id=61293 The Appellate Tribunal held that section 7(4) of the Wealth-tax Act should be applied to pending assessments, even for years before 1976-77. The Tribunal emphasized the procedural nature of the provision and ruled in favor of the assessee, directing the re-computation of net wealth by considering the applicability of section 7(4) to the case. The judgment underscored that any exemptions or reliefs provided by Parliament should not be undermined by administrative bodies or courts due to perceived ambiguities. en-us Sat, 30 Apr 1983 00:00:00 +0530 Wed, 12 Jan 2011 11:04:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61293 The Appellate Tribunal held that section 7(4) of the Wealth-tax Act should be applied to pending assessments, even for years before 1976-77. The Tribunal emphasized the procedural nature of the provision and ruled in favor of the assessee, directing the re-computation of net wealth by considering the applicability of section 7(4) to the case. The judgment underscored that any exemptions or reliefs provided by Parliament should not be undermined by administrative bodies or courts due to perceived ambiguities. Case-Laws Wealth-tax Sat, 30 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61293