https://www.taxtmi.com/caselaws?id=35712 The court ruled in favor of the petitioner-company, holding that the Income Tax Officer (ITO) lacked jurisdiction to reopen assessment proceedings under Section 147(b) of the Income Tax Act based on audit objections. The court emphasized that audit objections did not qualify as "information" for reopening assessments. Consequently, the court quashed the notice and restrained the respondent from further action, citing that the ITO's reliance on audit objections did not provide new factual information warranting the reopening of the assessment. en-us Tue, 19 Feb 1980 00:00:00 +0530 Tue, 16 Mar 2010 12:25:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35712 The court ruled in favor of the petitioner-company, holding that the Income Tax Officer (ITO) lacked jurisdiction to reopen assessment proceedings under Section 147(b) of the Income Tax Act based on audit objections. The court emphasized that audit objections did not qualify as "information" for reopening assessments. Consequently, the court quashed the notice and restrained the respondent from further action, citing that the ITO's reliance on audit objections did not provide new factual information warranting the reopening of the assessment. Case-Laws Income Tax Tue, 19 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35712