1981 (12) TMI 99 - AT - Income Tax

Summary

The Appellate Tribunal ITAT MADRAS-C dismissed a reference application questioning the jurisdiction of reassessment made under section 147(b) for the assessment year 1974-75 in the case of Shri H.D. Bhandarkar, Madras. The Tribunal held that the reassessment was without jurisdiction and invalid in law, as it was based on a change of opinion rather than new information. The reference application was dismissed as there was no referable question of law.