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W.T.A. NO.270/LB OF 2003, DECIDED ON 17TH JULY, 2004. versus W.T.A. NO.270/LB OF 2003, DECIDED ON 17TH JULY, 2004.

Sections 2 (1) (16) (24), 16 (3) and 17 Reopening the date of valuation of the assets are directly linked to the value of the property in the valuation date in the case of Wealth Tax and the Assisting Officer. Net wealth had to be determined on the date of valuation the net wealth had to be determined on the date of valuation and the authority could not extend the date to bring the date of valuation on the basis of assumptions and speculation in which case the date of valuation 30 6 1998 1998, but the Assessing Officer had reviewed the stock price, according to the trade, until 15 6 1998 when the Department had no final information Stock assessment was to understand the history of the evaluation of the 30 6 1998 and the reason was that it was suppressed assysy assysng officer was testing evaded the check or too low. The rate, should be sure to know that if the SCC did not file a return or the return filed by it, certain assets were excluded or wrongful details of net assets were submitted, the Sasing Officer may proceed. However, in such cases, there should be accurate information about the seizure of the Assessing Officer and he should also get approval from the IAC before reopening any assessment under Section 17 of the Wealth Tax Act, 1963, so that the escaping estimate The reasons for believing in be formed. Or as a result of obtaining any information from his possession, the examining officer must have some substance and not just imagination, imagination, speculation or doubt about the connection between belief in material and income or material escape. Must be folded, such thick famous supreme court advocate from Pindi bhohri lawyer