Arithmetical mistakes in computation of income.

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..... e Board by the C AG's Revenue Audit Parties and Board's concern expressed over the recurrence of the types of avoidable mistakes listed in para 2 of the above instruction. In Instruction No.355 it was directed, in respect of cases involving income-tax assessments, that:- i)before signing assessment orders, ITOs must satisfy themselves about the arithmetical accuracy of the total income determi .....

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..... een noticed in the wealth-tax assessments also. It has therefore, been decided by the Board that where the total wealth/taxable gifts exceeds Rs.5,00,000 or the principal value of Estate exceeds Rs.2 lakhs the Wealth Tax Officer/Gift Tax Officer/Assistant Controller must write in words as well as figures, the amount of total wealth/taxable gift/Principal value of the Estate. Board's decision conta .....

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