https://www.taxtmi.com/caselaws?id=60527 The Tribunal held that the Commissioner of Wealth-tax lacked jurisdiction to invoke Section 25(2) of the Wealth-tax Act as the assessment was not shown to be erroneous or prejudicial to revenue. The valuation of properties was deemed valid, with the Wealth-tax Officer conducting proper enquiries. The Tribunal emphasized that the Commissioner could not substitute his judgment for that of the Officer based on disagreement alone. The subsequent sale of a property for a higher amount did not automatically invalidate the original assessment. The appeal was allowed in favor of the assessee, setting aside the Commissioner's order. en-us Mon, 13 Jan 1997 00:00:00 +0530 Wed, 05 Jan 2011 17:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60527 The Tribunal held that the Commissioner of Wealth-tax lacked jurisdiction to invoke Section 25(2) of the Wealth-tax Act as the assessment was not shown to be erroneous or prejudicial to revenue. The valuation of properties was deemed valid, with the Wealth-tax Officer conducting proper enquiries. The Tribunal emphasized that the Commissioner could not substitute his judgment for that of the Officer based on disagreement alone. The subsequent sale of a property for a higher amount did not automatically invalidate the original assessment. The appeal was allowed in favor of the assessee, setting aside the Commissioner's order. Case-Laws Wealth-tax Mon, 13 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60527