1998 (6) TMI 13 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the Revenue in a case involving the reopening of assessment under section 147(b). The Tribunal held that the Income-tax Officer was not aware of a relevant court decision at the time of the original assessment, justifying the reopening of the assessment. The judgment of the apex court was considered as valid information for the reassessment.