1984 (1) TMI 43 - HC - Income Tax

Summary

The petition challenges a notice of reopening of assessment under s. 59 of the E.D. Act, 1953. The deceased's estate included shares valued at Rs. 1,693, which was accepted and duty paid. A notice to reassess was issued, citing errors in the valuation. The court ruled that audit objections do not justify reassessment, setting aside the notice.