https://www.taxtmi.com/caselaws?id=38474 Reassessment under section 9(b) of the Super Profits Tax Act, 1963 required fresh information in the officer's possession; a mere change of opinion on material already examined was insufficient, so the reopening was invalid. For capital base computation under rule 1 of the Second Schedule, the court held that rehabilitation reserve, reserve for doubtful debts, and gratuity reserve were includible because they were not shown to represent ascertained liabilities. Amounts set apart out of profits remain reserves unless they are truly created to meet a known liability. en-us Tue, 21 Jun 1977 00:00:00 +0530 Tue, 06 Apr 2010 15:02:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38474 Reassessment under section 9(b) of the Super Profits Tax Act, 1963 required fresh information in the officer's possession; a mere change of opinion on material already examined was insufficient, so the reopening was invalid. For capital base computation under rule 1 of the Second Schedule, the court held that rehabilitation reserve, reserve for doubtful debts, and gratuity reserve were includible because they were not shown to represent ascertained liabilities. Amounts set apart out of profits remain reserves unless they are truly created to meet a known liability. Case-Laws Income Tax Tue, 21 Jun 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38474