https://www.taxtmi.com/caselaws?id=17958 The High Court ruled in favor of the assessee, finding that the assessments made by the Assessing Officer for the assessment years 1964-65 to 1974-75 on January 27, 1987, were time-barred. The Court emphasized that the challenge before the Tribunal focused on the valuation methodology, not the assessment itself. As the Commissioner's order directed a reassessment of the goodwill value only, the Assessing Officer had the opportunity to reassess within the limitation period. The judgment clarified the importance of distinguishing between valuation disputes and assessment challenges, holding that the assessments were indeed time-barred based on the date of the Commissioner's order. en-us Wed, 06 Nov 1996 00:00:00 +0530 Fri, 25 Sep 2009 17:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17958 The High Court ruled in favor of the assessee, finding that the assessments made by the Assessing Officer for the assessment years 1964-65 to 1974-75 on January 27, 1987, were time-barred. The Court emphasized that the challenge before the Tribunal focused on the valuation methodology, not the assessment itself. As the Commissioner's order directed a reassessment of the goodwill value only, the Assessing Officer had the opportunity to reassess within the limitation period. The judgment clarified the importance of distinguishing between valuation disputes and assessment challenges, holding that the assessments were indeed time-barred based on the date of the Commissioner's order. Case-Laws Wealth-tax Wed, 06 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17958