https://www.taxtmi.com/caselaws?id=23609 The Court held that the reopening of the assessment under section 147(b) of the Income-tax Act was not justified as the audit report did not constitute valid information for reassessment. The Court found that the initial disclosure by the assessee was complete, and the reassessment was based on a change in the Income-tax Officer's opinion, which is not a valid ground for reopening. The Court ruled in favor of the assessee, concluding that the audit report did not provide new facts and did not qualify as "information" for the reassessment. en-us Thu, 02 Feb 1989 00:00:00 +0530 Tue, 22 Dec 2009 16:18:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23609 The Court held that the reopening of the assessment under section 147(b) of the Income-tax Act was not justified as the audit report did not constitute valid information for reassessment. The Court found that the initial disclosure by the assessee was complete, and the reassessment was based on a change in the Income-tax Officer's opinion, which is not a valid ground for reopening. The Court ruled in favor of the assessee, concluding that the audit report did not provide new facts and did not qualify as "information" for the reassessment. Case-Laws Income Tax Thu, 02 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23609