https://www.taxtmi.com/caselaws?id=26017 Reassessment under the Wealth-tax Act cannot be initiated on the basis of an audit party's legal opinion or a mere change of opinion where the primary facts were fully disclosed at the original assessment stage. In the Mardana Mahal matter, the same material had already been considered, so reopening on the ground of absence of registration was invalid. Reopening was also unsustainable on alleged nondisclosure of compensation, because the amount had already been disclosed under the voluntary disclosure scheme and taxed before the notices were issued. The reference applications were rejected, as no question of law arose from the Tribunal's order. en-us Mon, 23 Sep 1985 00:00:00 +0530 Tue, 02 Feb 2010 12:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26017 Reassessment under the Wealth-tax Act cannot be initiated on the basis of an audit party's legal opinion or a mere change of opinion where the primary facts were fully disclosed at the original assessment stage. In the Mardana Mahal matter, the same material had already been considered, so reopening on the ground of absence of registration was invalid. Reopening was also unsustainable on alleged nondisclosure of compensation, because the amount had already been disclosed under the voluntary disclosure scheme and taxed before the notices were issued. The reference applications were rejected, as no question of law arose from the Tribunal's order. Case-Laws Wealth-tax Mon, 23 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26017