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2008 (2) TMI 53 - HC - Wealth-tax
Wealth tax - When AO invokes section 17, the provision of section 14 and 16 to the extent applicable, for the purpose of making an order of reassessment will have to be followed which will include the time limit for notice u/s 16(2) - therefore, while invoking powers u/s 17, AO is bound by the mandate of the proviso to Section 16 (2) & on failure the order of re-assessment will be without jurisdiction & consequently the order of reassessment will have to be set aside