https://www.taxtmi.com/caselaws?id=11988 The court quashed the notices issued under section 10 of the Interest-tax Act, 1974, for reopening assessments of income for the years 1993-94 and 1994-95. It held that the audit objection cannot be the basis for reopening assessments and that the reopening constituted a change of opinion, which is not a valid ground. The legality of instructions by the Central Board of Direct Taxes was questioned but not definitively ruled upon. No costs were awarded, and the request for a stay of judgment was denied. en-us Tue, 22 Apr 2003 00:00:00 +0530 Sun, 14 Feb 2010 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11988 The court quashed the notices issued under section 10 of the Interest-tax Act, 1974, for reopening assessments of income for the years 1993-94 and 1994-95. It held that the audit objection cannot be the basis for reopening assessments and that the reopening constituted a change of opinion, which is not a valid ground. The legality of instructions by the Central Board of Direct Taxes was questioned but not definitively ruled upon. No costs were awarded, and the request for a stay of judgment was denied. Case-Laws Income Tax Tue, 22 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11988