https://www.taxtmi.com/caselaws?id=39661 The High Court upheld the validity of reassessment proceedings under Section 148 of the Income-tax Act, 1961, finding that new information justified the reassessment despite the Tribunal's view that it was a change of opinion. The Court held that the conditions under Section 147(b) were met, allowing for the reassessment. Additionally, the Court ruled that reassessment proceedings could be initiated directly against the principal, even if the original assessment was on the agent, dismissing arguments to the contrary and ordering each party to bear their own costs. en-us Wed, 04 Aug 1971 00:00:00 +0530 Mon, 19 Apr 2010 15:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39661 The High Court upheld the validity of reassessment proceedings under Section 148 of the Income-tax Act, 1961, finding that new information justified the reassessment despite the Tribunal's view that it was a change of opinion. The Court held that the conditions under Section 147(b) were met, allowing for the reassessment. Additionally, the Court ruled that reassessment proceedings could be initiated directly against the principal, even if the original assessment was on the agent, dismissing arguments to the contrary and ordering each party to bear their own costs. Case-Laws Income Tax Wed, 04 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39661