https://www.taxtmi.com/caselaws?id=184308 Reopening under section 34 requires definite information in the Income-tax Officer's possession leading a reasonable belief that income has escaped assessment; mere suspicion is insufficient. On the stated facts, information about materially higher purchase rates, alleged fictitious deposits, and an earlier low profit rate was treated as enough to justify the belief and support reopening. Where a case is transferred to another Income-tax Officer under section 5(7A), the transfer may occur at any stage and does not require re-issue of notices already served. Accordingly, prior notices under sections 22(4) and 23(2) continue to operate after transfer. en-us Mon, 25 Sep 1950 00:00:00 +0530 Tue, 05 Jul 2016 12:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184308 Reopening under section 34 requires definite information in the Income-tax Officer's possession leading a reasonable belief that income has escaped assessment; mere suspicion is insufficient. On the stated facts, information about materially higher purchase rates, alleged fictitious deposits, and an earlier low profit rate was treated as enough to justify the belief and support reopening. Where a case is transferred to another Income-tax Officer under section 5(7A), the transfer may occur at any stage and does not require re-issue of notices already served. Accordingly, prior notices under sections 22(4) and 23(2) continue to operate after transfer. Case-Laws Income Tax Mon, 25 Sep 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184308