https://www.taxtmi.com/caselaws?id=71159 The tribunal held that the re-opening of assessment under section 147(b) of the Income Tax Act was invalid as there was no new information warranting reassessment. Relief under section 80J for a bakery unit was disallowed due to losses in that division, with the tribunal ruling that the relief is limited to the new industrial undertaking. The assessment was deemed invalid as it was based on a change of opinion without valid information, leading to the tribunal setting it aside and emphasizing the importance of statutory compliance in assessments. en-us Wed, 03 Oct 1979 00:00:00 +0530 Thu, 21 Apr 2011 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71159 The tribunal held that the re-opening of assessment under section 147(b) of the Income Tax Act was invalid as there was no new information warranting reassessment. Relief under section 80J for a bakery unit was disallowed due to losses in that division, with the tribunal ruling that the relief is limited to the new industrial undertaking. The assessment was deemed invalid as it was based on a change of opinion without valid information, leading to the tribunal setting it aside and emphasizing the importance of statutory compliance in assessments. Case-Laws Income Tax Wed, 03 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71159