2009 (8) TMI 748

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..... d since the net wealth is above Rs. 10 lakhs, the Tribunal rightly held that the assessments are not time-barred – Appeal dismissed - WTA NO 172/09, WTA NO 175/09, WTA NO 176/09, WTA N - - - Dated:- 25-8-2009 - RAMACHANDRAN NAIR C. N. and ABDUL REHIM C. K, JJ. Judgment: C. N. Ramachandran Nair J.- 1. The connected appeals are filed by the assessee questioning the revised wealth-t .....

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..... lue declared in the wealth-tax returns based on which assessments were completed. In fact, the declaration of higher market value as onApril 1, 1981was accepted by the Department in the computation of long-term capital gains in the income-tax assessments. We are of the view that the assessee is a beneficiary in the deal inasmuch as the option to the Income-tax Officer was either to reject the asse .....

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