https://www.taxtmi.com/caselaws?id=18068 The Tribunal upheld the validity of the reassessment proceedings for the assessment years 1974-75 and 1975-76, stating that they were not reopened merely due to a change of opinion but on the basis of new information indicating income had escaped assessment. Regarding the quantum of disallowance regarding commission payment, the Tribunal allowed the claim at four per cent. based on the nature of services rendered, which was supported by a previous case law ruling. The High Court upheld the Tribunal's decision, resulting in a favorable outcome for the assessee. en-us Tue, 10 Sep 1996 00:00:00 +0530 Sat, 26 Sep 2009 15:31:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18068 The Tribunal upheld the validity of the reassessment proceedings for the assessment years 1974-75 and 1975-76, stating that they were not reopened merely due to a change of opinion but on the basis of new information indicating income had escaped assessment. Regarding the quantum of disallowance regarding commission payment, the Tribunal allowed the claim at four per cent. based on the nature of services rendered, which was supported by a previous case law ruling. The High Court upheld the Tribunal's decision, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Tue, 10 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18068