https://www.taxtmi.com/caselaws?id=190558 The court concluded that the notice issued by the Income-tax Officer under the amended section 34 of the Income-tax Act was not valid. The court emphasized that the belief for reopening an assessment must be based on factual information, not a mere change in opinion. The court did not address the questions regarding the retrospective application of the amended section 34 as it was conceded to be expressly retrospective. Additionally, the court held that overlooking a provision of law does not constitute definite information for reopening an assessment under section 34(1)(b). en-us Wed, 29 Jun 1955 00:00:00 +0530 Sat, 18 Feb 2017 16:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190558 The court concluded that the notice issued by the Income-tax Officer under the amended section 34 of the Income-tax Act was not valid. The court emphasized that the belief for reopening an assessment must be based on factual information, not a mere change in opinion. The court did not address the questions regarding the retrospective application of the amended section 34 as it was conceded to be expressly retrospective. Additionally, the court held that overlooking a provision of law does not constitute definite information for reopening an assessment under section 34(1)(b). Case-Laws Income Tax Wed, 29 Jun 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190558