https://www.taxtmi.com/caselaws?id=5091 Reopening of assessment was valid where the Income-tax Officer acted on external information from judicial decisions in related proceedings showing that the assessee's interest income was received as a financier and not as a partner. That material was not a mere change of opinion on facts already considered; it constituted information within the reopening provision even though the underlying facts could earlier have been found on the record. The challenge to jurisdiction therefore failed, and the assessment could be reopened on that basis. en-us Wed, 22 Nov 1967 00:00:00 +0530 Wed, 19 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5091 Reopening of assessment was valid where the Income-tax Officer acted on external information from judicial decisions in related proceedings showing that the assessee's interest income was received as a financier and not as a partner. That material was not a mere change of opinion on facts already considered; it constituted information within the reopening provision even though the underlying facts could earlier have been found on the record. The challenge to jurisdiction therefore failed, and the assessment could be reopened on that basis. Case-Laws Income Tax Wed, 22 Nov 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5091