https://www.taxtmi.com/caselaws?id=18129 Reopening under section 59(b) of the Estate Duty Act was invalid because an audit note that merely asked why goodwill had not been included in the principal value of the estate did not constitute "information" in the statutory sense. The High Court held that section 59(b) requires definite, substantive and unambiguous material giving reason to believe that chargeable property has escaped assessment. A speculative query or audit-induced suspicion, without any other supporting material, could not justify reassessment. The proceedings were therefore held invalid and the issue was decided in favour of the assessee. en-us Mon, 07 Oct 1996 00:00:00 +0530 Tue, 29 Sep 2009 10:18:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18129 Reopening under section 59(b) of the Estate Duty Act was invalid because an audit note that merely asked why goodwill had not been included in the principal value of the estate did not constitute "information" in the statutory sense. The High Court held that section 59(b) requires definite, substantive and unambiguous material giving reason to believe that chargeable property has escaped assessment. A speculative query or audit-induced suspicion, without any other supporting material, could not justify reassessment. The proceedings were therefore held invalid and the issue was decided in favour of the assessee. Case-Laws Income Tax Mon, 07 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18129