https://www.taxtmi.com/caselaws?id=66477 The Appellate Tribunal ITAT Hyderabad-B upheld the validity of the reassessment under section 147(b) in a case concerning the reopening of assessment by the Income Tax Officer. The Tribunal determined that the audit note provided factual information constituting 'information' under section 147(b), allowing for the reassessment based on the revised receipt amount. The Tribunal rejected arguments that the reassessment could only be under section 143(2) and concluded that the reopening fell within the specified time limits. Consequently, the appeal challenging the reassessment was dismissed. en-us Fri, 29 Aug 1986 00:00:00 +0530 Thu, 24 Feb 2011 18:33:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66477 The Appellate Tribunal ITAT Hyderabad-B upheld the validity of the reassessment under section 147(b) in a case concerning the reopening of assessment by the Income Tax Officer. The Tribunal determined that the audit note provided factual information constituting 'information' under section 147(b), allowing for the reassessment based on the revised receipt amount. The Tribunal rejected arguments that the reassessment could only be under section 143(2) and concluded that the reopening fell within the specified time limits. Consequently, the appeal challenging the reassessment was dismissed. Case-Laws Income Tax Fri, 29 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66477