Invalid reassessment under section 147(b) dismissed by ITAT MADRAS-C for AY 1974-75

The Appellate Tribunal ITAT MADRAS-C dismissed a reference application challenging the jurisdiction of a reassessment under section 147(b) for the assessment year 1974-75 in the case of Shri H.D. Bhandarkar, Madras. The Tribunal ruled the reassessment invalid as it was deemed to be based on a change of opinion rather than new information. The reference application was rejected due to the absence of a referable question of law.

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The Appellate Tribunal ITAT MADRAS-C dismissed a reference application questioning the jurisdiction of reassessment made under section 147(b) for the assessment year 1974-75 in the case of Shri H.D. Bhandarkar, Madras. The Tribunal held that the reassessment was without jurisdiction and invalid in law, as it was based on a change of opinion rather than new information. The reference application was dismissed as there was no referable question of law.

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