https://www.taxtmi.com/caselaws?id=14718 The High Court held that the Commissioner of Wealth-tax had jurisdiction to revise an assessment under section 25(2) of the Wealth-tax Act, 1957 based on errors or lack of proper enquiry. The Tribunal's decision, influenced by conflicting judgments, emphasized the need for a thorough investigation before accepting the assessee's figures. Comparing section 25(2) with section 263 of the Income-tax Act, the court found similarities and ruled in favor of the Revenue, stating that further enquiry could be initiated if an assessment was deemed erroneous and prejudicial to Revenue's interests. en-us Fri, 07 Jul 2000 00:00:00 +0530 Sat, 18 Jul 2009 12:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14718 The High Court held that the Commissioner of Wealth-tax had jurisdiction to revise an assessment under section 25(2) of the Wealth-tax Act, 1957 based on errors or lack of proper enquiry. The Tribunal's decision, influenced by conflicting judgments, emphasized the need for a thorough investigation before accepting the assessee's figures. Comparing section 25(2) with section 263 of the Income-tax Act, the court found similarities and ruled in favor of the Revenue, stating that further enquiry could be initiated if an assessment was deemed erroneous and prejudicial to Revenue's interests. Case-Laws Wealth-tax Fri, 07 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14718