https://www.taxtmi.com/caselaws?id=49619 A subsequent authoritative judicial decision can constitute "information" under section 34(1)(b) of the Income-tax Act, 1922, because the term covers both factual material and the correct state of the law. Income may also be treated as having "escaped assessment" even where it was returned and considered in earlier proceedings, if it was not ultimately brought to tax. On that basis, the reassessment framework under section 34(1)(b) was held legally available where a later legal ruling altered the basis of the earlier assessment. en-us Wed, 01 Oct 1958 00:00:00 +0530 Fri, 05 Sep 2014 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49619 A subsequent authoritative judicial decision can constitute "information" under section 34(1)(b) of the Income-tax Act, 1922, because the term covers both factual material and the correct state of the law. Income may also be treated as having "escaped assessment" even where it was returned and considered in earlier proceedings, if it was not ultimately brought to tax. On that basis, the reassessment framework under section 34(1)(b) was held legally available where a later legal ruling altered the basis of the earlier assessment. Case-Laws Income Tax Wed, 01 Oct 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49619