https://www.taxtmi.com/caselaws?id=29459 Section 147(b) permitted reassessment only on the basis of information coming into the Income-tax Officer's possession after the original assessment, giving reason to believe that income had escaped assessment. A mere later realisation, on reconsideration of the same material already on record, that corporation tax rebate had been wrongly computed did not constitute fresh information. Because the reopening was founded only on an alleged mistake in the original computation without any new material, it was invalid and not sustainable under section 147(b). en-us Thu, 10 Sep 1981 00:00:00 +0530 Sat, 13 Mar 2010 10:51:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29459 Section 147(b) permitted reassessment only on the basis of information coming into the Income-tax Officer's possession after the original assessment, giving reason to believe that income had escaped assessment. A mere later realisation, on reconsideration of the same material already on record, that corporation tax rebate had been wrongly computed did not constitute fresh information. Because the reopening was founded only on an alleged mistake in the original computation without any new material, it was invalid and not sustainable under section 147(b). Case-Laws Income Tax Thu, 10 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29459