https://www.taxtmi.com/caselaws?id=286551 The High Court upheld the validity of reopening assessments under section 147(b) of the Income-tax Act, 1961. The court determined that the Income-tax Officer (ITO) had jurisdiction to reassess income based on new information derived from a decision by the Income-tax Appellate Tribunal. The Tribunal's decision was considered a valid source of information regarding the interpretation of tax provisions, justifying the reassessment. The court ruled in favor of the tax authorities, affirming the legality of the reassessment process initiated by the ITO. en-us Tue, 15 Jul 1980 00:00:00 +0530 Tue, 03 Mar 2020 16:53:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286551 The High Court upheld the validity of reopening assessments under section 147(b) of the Income-tax Act, 1961. The court determined that the Income-tax Officer (ITO) had jurisdiction to reassess income based on new information derived from a decision by the Income-tax Appellate Tribunal. The Tribunal's decision was considered a valid source of information regarding the interpretation of tax provisions, justifying the reassessment. The court ruled in favor of the tax authorities, affirming the legality of the reassessment process initiated by the ITO. Case-Laws Income Tax Tue, 15 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286551