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

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..... 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 also failed to adopt the correct .....

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..... 8 and onward. The result of this review i.e. the number of under-assessment/over-assessments detected, the action taken, and the revenue effect thereon etc. should please be intimated to the Board by 30th December, 1972. 3. It should also be impressed on all assessing officers in your charge that in the pending wealth-tax assessments for 1967-68 and onwards the correct value of foreign assets mu .....

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