Review of all cases of Wealth-Tax assessees, having foreign assets.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., involving the assessment years 1967-68 and onwards the Wealth-tax Officers have failed to revalue the foreign assets on such valuation dates as were subsequent to the date of the Wealth-tax Officers has resulted into a substantial loss to the revenue. When the cases, in which audit objections were raised were scrutinised by the Department it was further noticed that the Wealth-tax Officers had a....