https://www.taxtmi.com/caselaws?id=39770 Reassessment under section 16(1)(b) requires post-assessment information from an external source that gives precise and authentic knowledge of escaped taxable gift; a mere change of opinion is insufficient. The revenue's letter contained only a general, unsupported assertion about land value and no specific factual material relating to the alleged escaped gift, so it did not qualify as information. The condition precedent for reopening was therefore not satisfied and the notice was invalid. en-us Tue, 19 Feb 1974 00:00:00 +0530 Tue, 20 Apr 2010 12:03:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39770 Reassessment under section 16(1)(b) requires post-assessment information from an external source that gives precise and authentic knowledge of escaped taxable gift; a mere change of opinion is insufficient. The revenue's letter contained only a general, unsupported assertion about land value and no specific factual material relating to the alleged escaped gift, so it did not qualify as information. The condition precedent for reopening was therefore not satisfied and the notice was invalid. Case-Laws Income Tax Tue, 19 Feb 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39770