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<h1>High Court Upholds Revenue in Assessment Reopening Case</h1> <h3>Madras Race Club Charitable Trust Versus Commissioner Of Income-Tax</h3> The High Court of Madras ruled in favor of the Revenue in a case involving the reopening of assessment under section 147(b). The Tribunal justified the ... Reassessment, Information That Income Has Escaped Assessment The High Court of Madras ruled in favor of the Revenue in a case involving the reopening of assessment under section 147(b). The Tribunal held that the Income-tax Officer was not aware of a relevant court decision at the time of the original assessment, justifying the reopening of the assessment. The judgment of the apex court was considered as valid information for the reassessment.