https://www.taxtmi.com/caselaws?id=66875 The Tribunal reversed the Commissioner of Wealth Tax's decision, holding that the re-characterization of assets for additional wealth tax under section 35 of the Wealth Tax Act was not justified. The Commissioner had directed a fresh order excluding specific buildings as business assets, but the Tribunal restored the original assessment, allowing the revenue's appeal. Additionally, the Tribunal held that the Commissioner of Wealth Tax (Appeals) exceeded jurisdiction by attempting to correct an order under section 25(2) through appellate proceedings, emphasizing that such orders were final and binding. en-us Mon, 30 Jan 1995 00:00:00 +0530 Mon, 07 Mar 2011 18:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66875 The Tribunal reversed the Commissioner of Wealth Tax's decision, holding that the re-characterization of assets for additional wealth tax under section 35 of the Wealth Tax Act was not justified. The Commissioner had directed a fresh order excluding specific buildings as business assets, but the Tribunal restored the original assessment, allowing the revenue's appeal. Additionally, the Tribunal held that the Commissioner of Wealth Tax (Appeals) exceeded jurisdiction by attempting to correct an order under section 25(2) through appellate proceedings, emphasizing that such orders were final and binding. Case-Laws Wealth-tax Mon, 30 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66875