Section 69 - Amendment of section 147.

Reassessment grounds: reopening allowed where information from a prescribed authority indicates non filing, understatement, or excessive claims.

Amendment adds a clause to the reassessment explanation authorising reopening where no return is filed or where, based on information or documents received from the prescribed income tax authority through the statutory information sharing mechanism, the Assessing Officer determines the assessee's income exceeds the non taxable threshold or that the return understates income or claims excessive loss, deduction, allowance or relief.