https://www.taxtmi.com/caselaws?id=39175 Reassessment is invalid where reopening is founded only on a change of opinion on the same material and not on fresh information. The earlier assessment had allowed exemption of the assessee's business income on the basis that it was a credit society, and the later action relied on no newly discovered material. In those circumstances, reopening under section 147(b) was without jurisdiction and could not be sustained merely because the assessing officer later adopted a different view of the same facts. en-us Fri, 18 Apr 1975 00:00:00 +0530 Tue, 13 Apr 2010 14:00:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39175 Reassessment is invalid where reopening is founded only on a change of opinion on the same material and not on fresh information. The earlier assessment had allowed exemption of the assessee's business income on the basis that it was a credit society, and the later action relied on no newly discovered material. In those circumstances, reopening under section 147(b) was without jurisdiction and could not be sustained merely because the assessing officer later adopted a different view of the same facts. Case-Laws Income Tax Fri, 18 Apr 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39175