1997 (12) TMI 12 - SC - Income Tax

Reopening of the assessment u/s 147(a) on basis of information regarding undervaluation of inventories, obtained in the subsequent year's assessment - held that the court cannot strike down the reopening of the case in the facts of this case - sufficiency or correctness of the material is not a thing to be considered at this stage - It will be open to the assessee to prove that the assumption of facts made in the notice was erroneous