https://www.taxtmi.com/caselaws?id=11694 Reassessment under section 147(b) may be valid where an audit report communicates relevant legal information and the assessing authority independently applies its mind before forming the requisite belief. Mere audit-party interpretation is distinguishable from legal information conveyed for the authority's consideration. Entitlement to section 80J relief was affected where goods were manufactured through another party rather than by the assessee, and where the prescribed audit requirement was not met. On these facts, reopening and reassessment were justified because the audit material supplied legally relevant information and the assessing authority independently considered it. en-us Tue, 06 May 2003 00:00:00 +0530 Sat, 06 Feb 2010 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11694 Reassessment under section 147(b) may be valid where an audit report communicates relevant legal information and the assessing authority independently applies its mind before forming the requisite belief. Mere audit-party interpretation is distinguishable from legal information conveyed for the authority's consideration. Entitlement to section 80J relief was affected where goods were manufactured through another party rather than by the assessee, and where the prescribed audit requirement was not met. On these facts, reopening and reassessment were justified because the audit material supplied legally relevant information and the assessing authority independently considered it. Case-Laws Income Tax Tue, 06 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11694