https://www.taxtmi.com/caselaws?id=16672 The Tribunal found the reassessment invalid as the audit objections did not provide valid grounds for reopening the assessment under section 147(b). The Departmental appeal was deemed infructuous since the reassessment was cancelled. The High Court upheld the Tribunal's decision, citing the Supreme Court's ruling that the audit party's opinion did not constitute valid information for reopening assessments. The reassessment was cancelled, and the Departmental appeal dismissal was upheld. en-us Tue, 16 Jul 1996 00:00:00 +0530 Wed, 09 Sep 2009 12:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16672 The Tribunal found the reassessment invalid as the audit objections did not provide valid grounds for reopening the assessment under section 147(b). The Departmental appeal was deemed infructuous since the reassessment was cancelled. The High Court upheld the Tribunal's decision, citing the Supreme Court's ruling that the audit party's opinion did not constitute valid information for reopening assessments. The reassessment was cancelled, and the Departmental appeal dismissal was upheld. Case-Laws Income Tax Tue, 16 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16672