https://www.taxtmi.com/caselaws?id=70555 Audit objections alone do not constitute valid "information" for reopening a completed assessment under section 147(b) where they merely express the audit party's own view on depreciation and deductibility of superannuation fund contributions. The text states that the revenue's reliance on the audit note was unsustainable because the governing Supreme Court authority on the meaning of "information" had displaced the contrary approach, and the audit observations did not reflect an independently established legal position. On that basis, the reopening was held invalid and the reassessment illegal, leaving the merits of the disallowance unexamined. en-us Tue, 13 Nov 1979 00:00:00 +0530 Mon, 18 Apr 2011 09:53:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70555 Audit objections alone do not constitute valid "information" for reopening a completed assessment under section 147(b) where they merely express the audit party's own view on depreciation and deductibility of superannuation fund contributions. The text states that the revenue's reliance on the audit note was unsustainable because the governing Supreme Court authority on the meaning of "information" had displaced the contrary approach, and the audit observations did not reflect an independently established legal position. On that basis, the reopening was held invalid and the reassessment illegal, leaving the merits of the disallowance unexamined. Case-Laws Income Tax Tue, 13 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70555