https://www.taxtmi.com/caselaws?id=39065 Once reassessment is validly initiated on the basis of reason to believe existing at the time of notice, the proceeding is not confined to the item originally recorded and extends to all escaped income or excessive relief for that assessment year. A later failure of the original reopening ground does not invalidate the initiation or restrict the taxing authority to that single issue. The validity of reopening is judged at the time the notice is issued, and a subsequent Supreme Court decision stating the correct legal position does not retrospectively render the reassessment bad in law. The reference was answered in favour of the Revenue, and the reassessment was upheld. en-us Mon, 24 Nov 1975 00:00:00 +0530 Mon, 12 Apr 2010 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39065 Once reassessment is validly initiated on the basis of reason to believe existing at the time of notice, the proceeding is not confined to the item originally recorded and extends to all escaped income or excessive relief for that assessment year. A later failure of the original reopening ground does not invalidate the initiation or restrict the taxing authority to that single issue. The validity of reopening is judged at the time the notice is issued, and a subsequent Supreme Court decision stating the correct legal position does not retrospectively render the reassessment bad in law. The reference was answered in favour of the Revenue, and the reassessment was upheld. Case-Laws Income Tax Mon, 24 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39065