https://www.taxtmi.com/caselaws?id=17819 The High Court upheld the reassessment under section 147(b) of the Income-tax Act for the assessment year 1972-73. The Appellate Tribunal had overturned the reassessment, deeming the reopening invalid due to insufficient information from the audit party. However, the High Court ruled in favor of the assessee, emphasizing the need for accurate and legally valid information for reassessments. The Court found that the Income-tax Officer's reliance on the flawed audit report did not justify the reassessment, ultimately leading to the decision in favor of the assessee. en-us Thu, 30 Jan 1997 00:00:00 +0530 Fri, 25 Sep 2009 10:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17819 The High Court upheld the reassessment under section 147(b) of the Income-tax Act for the assessment year 1972-73. The Appellate Tribunal had overturned the reassessment, deeming the reopening invalid due to insufficient information from the audit party. However, the High Court ruled in favor of the assessee, emphasizing the need for accurate and legally valid information for reassessments. The Court found that the Income-tax Officer's reliance on the flawed audit report did not justify the reassessment, ultimately leading to the decision in favor of the assessee. Case-Laws Income Tax Thu, 30 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17819