https://www.taxtmi.com/caselaws?id=309395 The Supreme Court dismissed the appeal, affirming the High Court's decision to set aside the re-assessment order due to the improper application of Sections 147(a) and 147(b) of the Income Tax Act, 1961. The Court held that neither section applied in the case as there was no omission or failure by the assessee to disclose material facts, and the decision in another case did not constitute 'information' under the Act. Additionally, the Court emphasized the necessity of adhering to legal limitations under Section 153 concerning passing re-assessment orders. en-us Thu, 04 Feb 1999 00:00:00 +0530 Wed, 30 Aug 2023 14:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309395 The Supreme Court dismissed the appeal, affirming the High Court's decision to set aside the re-assessment order due to the improper application of Sections 147(a) and 147(b) of the Income Tax Act, 1961. The Court held that neither section applied in the case as there was no omission or failure by the assessee to disclose material facts, and the decision in another case did not constitute 'information' under the Act. Additionally, the Court emphasized the necessity of adhering to legal limitations under Section 153 concerning passing re-assessment orders. Case-Laws Income Tax Thu, 04 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309395