Revision of wealth and gift tax assessments requires prior Inspecting Assistant Commissioner approval where revisions exceed the prescribed threshold. Wealth-tax and Gift-tax Officers must obtain prior approval from the Inspecting Assistant Commissioner before passing revision orders where a revision pursuant to appellate orders produces a reduction or enhancement of wealth-tax or gift-tax exceeding Rs.25,000; this procedural requirement applies to revision orders following appellate decisions and serves as supervisory control over significant tax adjustments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revision of wealth and gift tax assessments requires prior Inspecting Assistant Commissioner approval where revisions exceed the prescribed threshold.
Wealth-tax and Gift-tax Officers must obtain prior approval from the Inspecting Assistant Commissioner before passing revision orders where a revision pursuant to appellate orders produces a reduction or enhancement of wealth-tax or gift-tax exceeding Rs.25,000; this procedural requirement applies to revision orders following appellate decisions and serves as supervisory control over significant tax adjustments.
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