https://www.taxtmi.com/caselaws?id=70492 The Tribunal held that the Commissioner's reliance on post-assessment valuation reports for revising assessments under section 25(2) of the Wealth-tax Act, 1957 was unjustified. It was determined that such information cannot retroactively render the original assessments erroneous or prejudicial to revenue. Consequently, the Tribunal set aside the Commissioner's orders and reinstated the assessments made by the WTO, ruling in favor of the appellants, the separate remaindermen of the property in question. en-us Thu, 08 Dec 1983 00:00:00 +0530 Sat, 16 Apr 2011 14:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70492 The Tribunal held that the Commissioner's reliance on post-assessment valuation reports for revising assessments under section 25(2) of the Wealth-tax Act, 1957 was unjustified. It was determined that such information cannot retroactively render the original assessments erroneous or prejudicial to revenue. Consequently, the Tribunal set aside the Commissioner's orders and reinstated the assessments made by the WTO, ruling in favor of the appellants, the separate remaindermen of the property in question. Case-Laws Wealth-tax Thu, 08 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70492