https://www.taxtmi.com/caselaws?id=6485 Reassessment under section 147(b) could not be initiated merely because the Income-tax Officer later preferred another permissible method of computation under rule 33 of the 1922 Rules that would produce a higher taxable income. The original assessment was legally valid, and the existence of an alternative lawful method did not itself show escaped income or any error brought to light by subsequent information. The reassessing officer could not sit in appeal over the original choice of method or substitute his own discretion for a prior valid computation. Reopening was therefore unjustified on these facts. en-us Tue, 17 Aug 1976 00:00:00 +0530 Mon, 17 Feb 2020 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6485 Reassessment under section 147(b) could not be initiated merely because the Income-tax Officer later preferred another permissible method of computation under rule 33 of the 1922 Rules that would produce a higher taxable income. The original assessment was legally valid, and the existence of an alternative lawful method did not itself show escaped income or any error brought to light by subsequent information. The reassessing officer could not sit in appeal over the original choice of method or substitute his own discretion for a prior valid computation. Reopening was therefore unjustified on these facts. Case-Laws Income Tax Tue, 17 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6485