https://www.taxtmi.com/caselaws?id=2461 The High Court ruled in favor of the assessee in a case involving assessments under the Wealth-tax Act for the years 1982-83 to 1985-86. The Assessing Officer's decision to reopen assessments under section 17 based on a change of opinion regarding valuation methods was deemed unjustified. The court emphasized the importance of recognized valuation methods and limitations on reopening assessments solely due to a change of opinion on valuation approaches. The Tribunal's decision to annul the reassessments was upheld, with the High Court ruling in favor of the assessee on both issues presented. en-us Tue, 01 Mar 2005 00:00:00 +0530 Thu, 24 Apr 2008 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2461 The High Court ruled in favor of the assessee in a case involving assessments under the Wealth-tax Act for the years 1982-83 to 1985-86. The Assessing Officer's decision to reopen assessments under section 17 based on a change of opinion regarding valuation methods was deemed unjustified. The court emphasized the importance of recognized valuation methods and limitations on reopening assessments solely due to a change of opinion on valuation approaches. The Tribunal's decision to annul the reassessments was upheld, with the High Court ruling in favor of the assessee on both issues presented. Case-Laws Wealth-tax Tue, 01 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2461