https://www.taxtmi.com/caselaws?id=36038 Section 15 of the Excess Profits Tax Act, 1940 could be invoked only on definite information already in the authority's possession showing escaped assessment. Stray observations made by the Tribunal in proceedings concerning other companies did not constitute such information because they were not directed against the assessee and were not findings on its assessment. The jurisdictional condition for reopening was therefore absent, so the reassessment notices were invalid and quashed. en-us Wed, 18 Jul 1979 00:00:00 +0530 Fri, 19 Mar 2010 10:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36038 Section 15 of the Excess Profits Tax Act, 1940 could be invoked only on definite information already in the authority's possession showing escaped assessment. Stray observations made by the Tribunal in proceedings concerning other companies did not constitute such information because they were not directed against the assessee and were not findings on its assessment. The jurisdictional condition for reopening was therefore absent, so the reassessment notices were invalid and quashed. Case-Laws Income Tax Wed, 18 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36038