https://www.taxtmi.com/caselaws?id=8637 Reopening under section 34(1)(b) of the Indian Income-tax Act, 1922 is justified only when the Income-tax Officer receives subsequent information after the original assessment and that information supports a belief that income has escaped assessment. A reassessment cannot be founded on a later officer's different appreciation of the same material already on record, including directors' reports and correspondence, because a mere change of opinion does not amount to statutory information. The operative principle is that jurisdiction to reopen depends on new information, not reappraisal of existing facts. en-us Fri, 14 May 1971 00:00:00 +0530 Fri, 08 May 2009 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8637 Reopening under section 34(1)(b) of the Indian Income-tax Act, 1922 is justified only when the Income-tax Officer receives subsequent information after the original assessment and that information supports a belief that income has escaped assessment. A reassessment cannot be founded on a later officer's different appreciation of the same material already on record, including directors' reports and correspondence, because a mere change of opinion does not amount to statutory information. The operative principle is that jurisdiction to reopen depends on new information, not reappraisal of existing facts. Case-Laws Income Tax Fri, 14 May 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8637