https://www.taxtmi.com/caselaws?id=36715 The High Court ruled that the reopening of the assessment under section 147(b) of the Income-tax Act was invalid. The court held that the Income-tax Officer did not receive new information from an external source as required by the law. The failure to correctly apply the law during the original assessment did not justify the reopening. The court agreed with the Tribunal's decision, stating that the reassessment was based on a reevaluation of existing facts, not new information. The respondents were awarded costs and counsel fees. en-us Wed, 26 Sep 1979 00:00:00 +0530 Wed, 24 Mar 2010 11:14:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36715 The High Court ruled that the reopening of the assessment under section 147(b) of the Income-tax Act was invalid. The court held that the Income-tax Officer did not receive new information from an external source as required by the law. The failure to correctly apply the law during the original assessment did not justify the reopening. The court agreed with the Tribunal's decision, stating that the reassessment was based on a reevaluation of existing facts, not new information. The respondents were awarded costs and counsel fees. Case-Laws Income Tax Wed, 26 Sep 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36715