https://www.taxtmi.com/caselaws?id=8768 Proceedings under section 147(b) were analysed with primary focus on whether information triggering reassessment existed. The text treats information as extraneous material brought to the assessing officers notice by an external source including audit communications pointing to incorrect application of market value and wrongful allowance of pre-1954 possession or improvements and distinguishes such information from the assessing officers mere change of opinion. Consequence: reassessment is valid where an external communication reveals a mistake apparent on the face of the record or new factual or legal implications not realised by the officer; mere internal reappraisal does not qualify as information. en-us Fri, 28 Jul 1972 00:00:00 +0530 Mon, 19 Jan 2026 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8768 Proceedings under section 147(b) were analysed with primary focus on whether information triggering reassessment existed. The text treats information as extraneous material brought to the assessing officers notice by an external source including audit communications pointing to incorrect application of market value and wrongful allowance of pre-1954 possession or improvements and distinguishes such information from the assessing officers mere change of opinion. Consequence: reassessment is valid where an external communication reveals a mistake apparent on the face of the record or new factual or legal implications not realised by the officer; mere internal reappraisal does not qualify as information. Case-Laws Income Tax Fri, 28 Jul 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8768