https://www.taxtmi.com/caselaws?id=55848 A Revenue Audit note may constitute sufficient information for reopening under section 147(b) where it reveals a factual omission in the original assessment, and the reassessment was treated as validly initiated. Sales tax collected by a trader was held to be a trading receipt includible in business profits and taxable in the relevant year. However, because the same amount had also been included in another year, relief was granted by directing its deletion from the later year to prevent double taxation. en-us Sat, 06 Sep 1980 00:00:00 +0530 Tue, 30 Nov 2010 13:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55848 A Revenue Audit note may constitute sufficient information for reopening under section 147(b) where it reveals a factual omission in the original assessment, and the reassessment was treated as validly initiated. Sales tax collected by a trader was held to be a trading receipt includible in business profits and taxable in the relevant year. However, because the same amount had also been included in another year, relief was granted by directing its deletion from the later year to prevent double taxation. Case-Laws Income Tax Sat, 06 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55848