https://www.taxtmi.com/caselaws?id=66835 The Appellate Tribunal consolidated appeals concerning the validity of the Commissioner's actions under section 25(2) of the Wealth-tax Act, 1957, regarding liability deductions. The Commissioner canceled assessment orders due to errors prejudicial to revenue, specifically disallowing liabilities as deductions. The Tribunal found the liabilities in question non-deductible, leading to the cancellation of the Commissioner's orders. It emphasized the necessity of errors prejudicial to revenue for revising orders under section 25(2) and concluded that the Commissioner lacked jurisdiction in this case, ultimately allowing the appeals and canceling the Commissioner's orders. en-us Fri, 30 Apr 1982 00:00:00 +0530 Mon, 07 Mar 2011 16:40:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66835 The Appellate Tribunal consolidated appeals concerning the validity of the Commissioner's actions under section 25(2) of the Wealth-tax Act, 1957, regarding liability deductions. The Commissioner canceled assessment orders due to errors prejudicial to revenue, specifically disallowing liabilities as deductions. The Tribunal found the liabilities in question non-deductible, leading to the cancellation of the Commissioner's orders. It emphasized the necessity of errors prejudicial to revenue for revising orders under section 25(2) and concluded that the Commissioner lacked jurisdiction in this case, ultimately allowing the appeals and canceling the Commissioner's orders. Case-Laws Income Tax Fri, 30 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66835