Law: Wealth Tax Act, 1957

Section: 27(1),25(2),2(m)(ii),35

Wealth tax----Revision---Commissioner---Notices under S.25 by Commissioner in proceedings to revise assessment---Mistake rectified by W.T.O. himself under S.35 of the Act prior to issue of S.25(2) notice---Rectification order later set aside by A.A.C. on appeal---Tribunal setting aside revision order on ground that assessment order stood rectified on date of issuance of notice under S.25---Last notice under S.25 issued after rectification order ceased to exist--Tribunal failing to consider effect of last notice--Commissioner's order subsequent to setting aside of rectification order by A.A.C.---Commissioner has jurisdiction to revise order under S.25---Tribunal's-order erroneous and liable to be set aside---Indian Wealth Tax Act, 1957, Ss.25 & 35. Proposing to revise, the assessment in -respect of the assessee under the Wealth Tax Act, 1957; the Commissioner issued a notice under section 25(2) of the Act to disallow a liability which had been allowed in the computation of the assessee's net wealth. .Prior to the issuance of the notice under section 25(2), the Wealth Tax Officer himself passed a rectification order under section 35 of the Act. The Appellate Assistant Commissioner by order, dated January 21, 1976, set aside the rectification order on the ground that there was no mistake apparent from the record. . The Commissioner issued two further notices under section 25(2) on Janu2ry 7, 1976, and January 24, 197fx and passed the order on March. 8, 1976, setting aside the assessment and directing the Assessing Officer to make make fresh assessment. On appeal against the order under section 25; the Tribunal held that since, when the Commissioner issued notice under section 25, the assessment order stood already rectified, the Commissioner lacked jurisdiction under section 25 to revise the order. On a reference: Held, that the notice, dated January 24, 1976 issued by, the Commissioner was given after the Appellate Assistant Commissioner had already set aside the rectification order by his order, dated January. 21, 1976. Therefore, on January 24, 1976, the order under section 35 had ceased to exist and the assessment order could be said to be erroneous as…

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