https://www.taxtmi.com/caselaws?id=6263 Reassessment under section 34(1)(b) of the Income-tax Act, 1922 requires post-assessment information in the Income-tax Officer's possession that justifies the belief that income has escaped assessment. A mere later change of opinion, or failure to notice material already disclosed on the record, is insufficient. On the facts stated, the assessee had disclosed the relevant income and the reopening rested only on a different view taken by a successor officer, so the reassessment was not valid and the result was against the Revenue. en-us Fri, 27 Aug 1971 00:00:00 +0530 Mon, 03 Oct 2016 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6263 Reassessment under section 34(1)(b) of the Income-tax Act, 1922 requires post-assessment information in the Income-tax Officer's possession that justifies the belief that income has escaped assessment. A mere later change of opinion, or failure to notice material already disclosed on the record, is insufficient. On the facts stated, the assessee had disclosed the relevant income and the reopening rested only on a different view taken by a successor officer, so the reassessment was not valid and the result was against the Revenue. Case-Laws Income Tax Fri, 27 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6263