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2016 (4) TMI 629 - AT - Wealth-taxRevision u/s 25(2) of the Wealth Tax Act, 1957 - Assessing Officer revalued some properties by adopting a higher value and many other properties were revalued by enhancing the values by 25% of the values declared - Commissioner was of the view that, the assessments framed in these cases were erroneous and prejudicial to the interests of the Revenue, and accordingly issued notices for revision under S.25(2) - Held that:- As decided in assessee's own case as the impugned lands are also being agricultural lands, they have been excluded from the wealth tax by the Ld. CIT(A) in earlier years. In view of this, we do not find any justification in invoking the provisions of Section 25(2) and setting aside the orders of AO. Consequently, we are of the opinion that the orders of AO are neither erroneous nor prejudicial to the interest of Revenue. Accordingly, the orders of Pr. CWT u/s. 25(2) in these appeals are set aside and the orders of AO are restored - Decided in favour of assessee
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