https://www.taxtmi.com/caselaws?id=37714 The High Court held that the reassessment proceedings for the assessment years 1962-63 and 1963-64 were not invalidated based on the Tribunal's reasoning. It emphasized that the Income Tax Officer could reopen assessments based on information from existing records without needing incontrovertible proof of income escapement. The Court directed the Tribunal to investigate whether new information justified the reassessment for both years, instructing a review with the opportunity for parties to be heard and further evidence to be considered. en-us Tue, 04 Apr 1978 00:00:00 +0530 Wed, 31 Mar 2010 15:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37714 The High Court held that the reassessment proceedings for the assessment years 1962-63 and 1963-64 were not invalidated based on the Tribunal's reasoning. It emphasized that the Income Tax Officer could reopen assessments based on information from existing records without needing incontrovertible proof of income escapement. The Court directed the Tribunal to investigate whether new information justified the reassessment for both years, instructing a review with the opportunity for parties to be heard and further evidence to be considered. Case-Laws Income Tax Tue, 04 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37714