https://www.taxtmi.com/caselaws?id=57427 The appeals related to income-tax liability for assessment years 1982-83 and 1983-84 were admitted despite a 120-day filing delay. The dispute over wealth and tax liabilities centered on correct computation and application of section 25(2) of the Wealth-tax Act. The Tribunal found errors in the Wealth-tax Officer's orders but concluded no prejudice to revenue, leading to cancellation of the Commissioner's orders. The judgment extensively discussed precedents and technical aspects, ultimately emphasizing the importance of establishing both error and prejudice for actions under section 25(2) of the Act. en-us Fri, 26 Jun 1987 00:00:00 +0530 Fri, 10 Dec 2010 11:28:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57427 The appeals related to income-tax liability for assessment years 1982-83 and 1983-84 were admitted despite a 120-day filing delay. The dispute over wealth and tax liabilities centered on correct computation and application of section 25(2) of the Wealth-tax Act. The Tribunal found errors in the Wealth-tax Officer's orders but concluded no prejudice to revenue, leading to cancellation of the Commissioner's orders. The judgment extensively discussed precedents and technical aspects, ultimately emphasizing the importance of establishing both error and prejudice for actions under section 25(2) of the Act. Case-Laws Wealth-tax Fri, 26 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57427