C L VERMA Vs. INSPECTING ASSISTANT COMMISSIONER

JUDGEMENT

(1.) THIS judgment will dispose of Civil Writs 2285 of 1983 and 1111 of 1984. The first writ pertains to the notice under S. 17 of the WT Act seeking to reopen the assessment for the year 1973-74, while the second writ petition challenges the similar notice in respect of the asst. yrs. 1074-75 and 1975- 76.

(2.) THE only reason for seeking to reopen the assessment is that the shares of Continental Construction (P) Ltd. held by the petitioner had not been properly valued as full and material facts were not alleged to have been disclosed by the petitioner.

(3.) FOR the aforesaid reasons these writ petitions are allowed and notices under S. 17(1)(a) in respect of the aforesaid assessment years are quashed. There will be no order as to costs. Interim orders are vacated.