https://www.taxtmi.com/caselaws?id=61307 The Tribunal held that the Commissioner of Wealth Tax lacked jurisdiction to pass an order under section 25(2) of the Wealth Tax Act for the assessment year 1978-79. The Tribunal found that the assessment by the Wealth Tax Officer was not erroneous or prejudicial to the revenue's interest due to the failure to record an opinion on the penalty issue. As there were two reasonable views, the Tribunal favored the assessee and invalidated the Commissioner's order, allowing the assessee's appeal. en-us Sat, 21 Jan 1984 00:00:00 +0530 Wed, 12 Jan 2011 11:37:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61307 The Tribunal held that the Commissioner of Wealth Tax lacked jurisdiction to pass an order under section 25(2) of the Wealth Tax Act for the assessment year 1978-79. The Tribunal found that the assessment by the Wealth Tax Officer was not erroneous or prejudicial to the revenue's interest due to the failure to record an opinion on the penalty issue. As there were two reasonable views, the Tribunal favored the assessee and invalidated the Commissioner's order, allowing the assessee's appeal. Case-Laws Wealth-tax Sat, 21 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61307