https://www.taxtmi.com/caselaws?id=70862 The Tribunal upheld the reopening of the assessment under section 147(b) based on the audit objection regarding the undervaluation of closing stock. They found that subsequent changes in the reasons for reopening would not invalidate the proceedings if validly initiated. The Tribunal partially allowed the appeal filed by the assessee, confirming the gross profit addition made by the ITO but rejecting the objection that the assessment should not be enlarged to consider other issues. en-us Tue, 18 Dec 1984 00:00:00 +0530 Tue, 19 Apr 2011 17:17:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70862 The Tribunal upheld the reopening of the assessment under section 147(b) based on the audit objection regarding the undervaluation of closing stock. They found that subsequent changes in the reasons for reopening would not invalidate the proceedings if validly initiated. The Tribunal partially allowed the appeal filed by the assessee, confirming the gross profit addition made by the ITO but rejecting the objection that the assessment should not be enlarged to consider other issues. Case-Laws Income Tax Tue, 18 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70862