https://www.taxtmi.com/caselaws?id=66556 The Tribunal upheld the validity of reopening the assessment under section 147(b) based on the Valuation Officer's report under section 55A, dismissing the assessee's appeal in the quantum case. The Valuation Officer's report was deemed as qualifying "information" for invoking jurisdiction under section 147(b), similar to provisions under the Wealth-tax Act. The Tribunal emphasized the binding nature of the Valuation Officer's report, stating it constituted concrete information enabling the Income-tax Officer to proceed with reassessment, distinguishing it from prior case laws under the Wealth-tax Act. en-us Thu, 19 Aug 1993 00:00:00 +0530 Mon, 28 Feb 2011 12:04:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66556 The Tribunal upheld the validity of reopening the assessment under section 147(b) based on the Valuation Officer's report under section 55A, dismissing the assessee's appeal in the quantum case. The Valuation Officer's report was deemed as qualifying "information" for invoking jurisdiction under section 147(b), similar to provisions under the Wealth-tax Act. The Tribunal emphasized the binding nature of the Valuation Officer's report, stating it constituted concrete information enabling the Income-tax Officer to proceed with reassessment, distinguishing it from prior case laws under the Wealth-tax Act. Case-Laws Income Tax Thu, 19 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66556