https://www.taxtmi.com/caselaws?id=262555 The court ruled in favor of the appellants regarding the validity of reassessment proceedings for the assessment year 1989-90, stating that the reopening was based on a change of opinion, which is not permissible. However, the court ruled against the appellants regarding the correctness of the cost of acquisition as on April 1, 1974, for the assessment year 1990-91, upholding the valuation made by the DVO. The appeals were disposed of with no order as to costs. en-us Tue, 20 Jan 2015 00:00:00 +0530 Thu, 13 Aug 2015 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262555 The court ruled in favor of the appellants regarding the validity of reassessment proceedings for the assessment year 1989-90, stating that the reopening was based on a change of opinion, which is not permissible. However, the court ruled against the appellants regarding the correctness of the cost of acquisition as on April 1, 1974, for the assessment year 1990-91, upholding the valuation made by the DVO. The appeals were disposed of with no order as to costs. Case-Laws Income Tax Tue, 20 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262555