https://www.taxtmi.com/caselaws?id=69663 The Tribunal held that the Assessing Officer's decision to reopen the assessment for share valuation after the prescribed period was unwarranted. Despite previous orders valuing shares on a yield basis, the Assessing Officer's action was deemed unjustified. The Tribunal emphasized the need for proper rectification procedures rather than unilateral reopening of assessments. Referring to legal precedent, the Tribunal highlighted the finality of tribunal orders unless legally overturned. As a result, the Tribunal set aside the lower authority's decision, annulling the addition made and allowing the appeal filed by the assessee without costs. en-us Wed, 13 Jul 2005 00:00:00 +0530 Mon, 17 Jun 2013 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69663 The Tribunal held that the Assessing Officer's decision to reopen the assessment for share valuation after the prescribed period was unwarranted. Despite previous orders valuing shares on a yield basis, the Assessing Officer's action was deemed unjustified. The Tribunal emphasized the need for proper rectification procedures rather than unilateral reopening of assessments. Referring to legal precedent, the Tribunal highlighted the finality of tribunal orders unless legally overturned. As a result, the Tribunal set aside the lower authority's decision, annulling the addition made and allowing the appeal filed by the assessee without costs. Case-Laws Income Tax Wed, 13 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69663