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of <h1>Commissioners Can Revise Wealth Tax Orders u/s 23(2) Even Against Valuation Reports.</h1> The circular discusses the scope of the revisionary powers of commissioners under section 23(2) of the Wealth Tax Act, 1957. It clarifies that a Commissioner of Wealth-tax can revise an assessment order, even if it is based on a valuation officer's report, which is binding on the wealth-tax officer. If the Commissioner finds that the valuation report contains errors or is based on irrelevant principles, he can review the order. The determination of an error is at the discretion of the Commissioner, based on the specific facts of the case.
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