https://www.taxtmi.com/caselaws?id=21402 The High Court of Karnataka ruled in favor of the Revenue in a case concerning the reopening of assessments for the years 1978-79 and 1979-80 based on the Commissioner of Income-tax's order. The Court held that the Commissioner's order constituted valid "information" for initiating reassessment under section 147(b) of the Income-tax Act, 1961. It emphasized that assessing authorities could rely on various sources, including judicial decisions and overlooked aspects during the original assessment, to reopen assessments. The Court remitted the case for further examination of the deductions claimed by the assessee for the relevant years. en-us Fri, 09 Oct 1992 00:00:00 +0530 Tue, 24 Nov 2009 11:29:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21402 The High Court of Karnataka ruled in favor of the Revenue in a case concerning the reopening of assessments for the years 1978-79 and 1979-80 based on the Commissioner of Income-tax's order. The Court held that the Commissioner's order constituted valid "information" for initiating reassessment under section 147(b) of the Income-tax Act, 1961. It emphasized that assessing authorities could rely on various sources, including judicial decisions and overlooked aspects during the original assessment, to reopen assessments. The Court remitted the case for further examination of the deductions claimed by the assessee for the relevant years. Case-Laws Income Tax Fri, 09 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21402