2000 (7) TMI 14 - HC - Wealth-tax

Summary

The High Court of Delhi heard twelve references related to the same assessee, with some filed by the Revenue and some by the assessee. The court held that the compensation amount for which an appeal was filed was not liable to be included in the net wealth of the assessee. The court also stated that the Tribunal should have admitted additional legal grounds if they were contrary to the earlier position accepted by the assessee. The court declined to answer the question referred at the assessee's instance as the valuation fixed by the Tribunal was not challenged by the assessee.