https://www.taxtmi.com/caselaws?id=22421 The High Court held that the Income-tax Officer was justified in reopening the assessment under section 147(b) of the Income-tax Act, 1961, based on the belief that income had escaped assessment. The Court disagreed with the Tribunal's finding that the reopening was a mere change of opinion, emphasizing that the Officer had valid grounds to reassess the income. The High Court concluded that the conditions for reopening the assessment were met, overturning the Tribunal's decision and ruling in favor of the Revenue. en-us Tue, 18 Dec 1990 00:00:00 +0530 Thu, 10 Dec 2009 10:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22421 The High Court held that the Income-tax Officer was justified in reopening the assessment under section 147(b) of the Income-tax Act, 1961, based on the belief that income had escaped assessment. The Court disagreed with the Tribunal's finding that the reopening was a mere change of opinion, emphasizing that the Officer had valid grounds to reassess the income. The High Court concluded that the conditions for reopening the assessment were met, overturning the Tribunal's decision and ruling in favor of the Revenue. Case-Laws Income Tax Tue, 18 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22421