https://www.taxtmi.com/caselaws?id=37088 Factual material obtained from outside the assessee's own record can constitute "information" for reopening under Section 147(b) of the Income-tax Act, 1961. Here, a later-year expert report and the partner's written admission indicated that the actual cost of centering machines was lower than the amount recorded in the books, giving the Income-tax Officer a reasonable basis to believe income had escaped assessment. The reopening was not treated as a mere change of opinion because it rested on fresh external material, not on a review of the original assessment. en-us Thu, 15 Nov 1979 00:00:00 +0530 Fri, 26 Mar 2010 12:46:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37088 Factual material obtained from outside the assessee's own record can constitute "information" for reopening under Section 147(b) of the Income-tax Act, 1961. Here, a later-year expert report and the partner's written admission indicated that the actual cost of centering machines was lower than the amount recorded in the books, giving the Income-tax Officer a reasonable basis to believe income had escaped assessment. The reopening was not treated as a mere change of opinion because it rested on fresh external material, not on a review of the original assessment. Case-Laws Income Tax Thu, 15 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37088