https://www.taxtmi.com/caselaws?id=7984 The court ruled that the audit department's opinion did not constitute "information" under section 147(b) of the Income-tax Act, 1961. As a result, the notice issued under section 148 for reassessment was deemed invalid. The court held that the Income-tax Officer lacked the necessary grounds to reopen the assessment, emphasizing the importance of strict conditions to prevent unwarranted reassessments. The petition was allowed, the notice was quashed, and the respondent was ordered to pay the petitioner's costs. en-us Tue, 23 Jun 1970 00:00:00 +0530 Thu, 26 Mar 2009 13:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7984 The court ruled that the audit department's opinion did not constitute "information" under section 147(b) of the Income-tax Act, 1961. As a result, the notice issued under section 148 for reassessment was deemed invalid. The court held that the Income-tax Officer lacked the necessary grounds to reopen the assessment, emphasizing the importance of strict conditions to prevent unwarranted reassessments. The petition was allowed, the notice was quashed, and the respondent was ordered to pay the petitioner's costs. Case-Laws Income Tax Tue, 23 Jun 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7984