https://www.taxtmi.com/caselaws?id=361208 The Madras High Court dismissed the appeal against the reopening of an assessment for the year 1991-1992, ruling in favor of the assessee and against the Revenue. The Court found the Departmental valuer's report to be inconclusive and based on estimation, not providing sufficient grounds for reopening the assessment. Emphasizing the obligation of the assessee to disclose all relevant facts and the impermissibility of reopening based on estimations amounting to a change of opinion, the Court held that the reasons for reopening were insufficient. The appeal was rejected with no costs awarded. en-us Wed, 04 Apr 2018 00:00:00 +0530 Thu, 31 May 2018 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361208 The Madras High Court dismissed the appeal against the reopening of an assessment for the year 1991-1992, ruling in favor of the assessee and against the Revenue. The Court found the Departmental valuer's report to be inconclusive and based on estimation, not providing sufficient grounds for reopening the assessment. Emphasizing the obligation of the assessee to disclose all relevant facts and the impermissibility of reopening based on estimations amounting to a change of opinion, the Court held that the reasons for reopening were insufficient. The appeal was rejected with no costs awarded. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361208