empowered to reopen the assessment on the basis of "definite
information". Though this judgment is based on the phraseology of
section ... amendment made in 1948. In that year, the words "definite
information" were replaced by the words "reason to believe". While
expatiating
empowered to
reopen the assessment on the basis of "definite information". Though this
judgment is based on the phraseology of section ... amendment made in 1948. In that
year, the words "definite information" were replaced by the words "reason
to believe". While expatiating
received so much amount their father would have
definitely informed about it to them.
4. They further contended that their father
formed the sites ... received so much
money, their father would have definitely informed
them about the same. They further contended that
their father formed the sites by spending
empowered to reopen the assessment on the basis of
"definite information". Though this judgment is based on the
phraseology of section ... amendment made in 1948. In that year,
the words "definite information" were replaced by the words "reason
to believe". While expatiating
where the reassessment notice has
been issued on the basis of definite information from CBI
regarding investments by the assessee which had not been
disclosed
genuine and original assessments made allowing
interest thereon as deduction. Subsequent information from officer assessing company
that its managing director had confessed that company ... forming the belief is not for the court to judge subsequent information
definite, specific and reliable Notice for reassessment valid.
3.6 What is required
where the reassessment notice
has been issued on the basis of definite information from CBI
regarding investments by the assessee which had not been
disclosed
with reopening of
assessments proceedings, made use of the word "definite
information" this was amended in 1948. Non usage of these
words however
order.
It is evident that AO had precise and definite information as regard to
escapement of income of Rs.5,01,049/- since the said
assessee. from assessment. The fact that the words "definite
information" which were there in section ... income of the assessee from
assessment. The fact that the words` definite information` which
were there in section
