https://www.taxtmi.com/caselaws?id=284131 Reassessment under section 34(1)(b) of the Indian Income-tax Act, 1922 required fresh information in the Income-tax Officer's possession giving reason to believe that income had escaped assessment. The trust deed and the fact that the trust became revocable after seven years were already in the departmental record, and earlier correspondence had identified both the deed date and the limited irrevocability period. A later internal communication did not supply any new material beyond what was already available on record, and the Tribunal's findings did not establish the necessary basis for action under clause (b). Reassessment was therefore held not to have been validly initiated, in favour of the assessee. en-us Tue, 04 Sep 1962 00:00:00 +0530 Sat, 02 Nov 2019 18:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284131 Reassessment under section 34(1)(b) of the Indian Income-tax Act, 1922 required fresh information in the Income-tax Officer's possession giving reason to believe that income had escaped assessment. The trust deed and the fact that the trust became revocable after seven years were already in the departmental record, and earlier correspondence had identified both the deed date and the limited irrevocability period. A later internal communication did not supply any new material beyond what was already available on record, and the Tribunal's findings did not establish the necessary basis for action under clause (b). Reassessment was therefore held not to have been validly initiated, in favour of the assessee. Case-Laws Income Tax Tue, 04 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284131