https://www.taxtmi.com/caselaws?id=291442 Fresh definite information is required to reopen a completed assessment under Section 34 of the Income-tax Act, 1922; a later reply that merely quantifies facts already disclosed does not satisfy that standard. The assessees had already disclosed their interest in the Ahmedabad firm, and the Income-tax Officer had set the enquiry in motion on that basis before completing the assessment. The subsequent figures from Ahmedabad only supplied the precise amount and did not amount to new information justifying reassessment. A notice issued on that material was therefore not warranted, and the matter was decided in favour of the assessees. en-us Mon, 11 Jun 1951 00:00:00 +0530 Wed, 11 Nov 2020 10:56:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291442 Fresh definite information is required to reopen a completed assessment under Section 34 of the Income-tax Act, 1922; a later reply that merely quantifies facts already disclosed does not satisfy that standard. The assessees had already disclosed their interest in the Ahmedabad firm, and the Income-tax Officer had set the enquiry in motion on that basis before completing the assessment. The subsequent figures from Ahmedabad only supplied the precise amount and did not amount to new information justifying reassessment. A notice issued on that material was therefore not warranted, and the matter was decided in favour of the assessees. Case-Laws Income Tax Mon, 11 Jun 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291442