1971 (8) TMI 11 - SUPREME COURT

Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the action under section 34(1)(b) of the Income-tax Act, 1922, was legal and valid ?

Held that:- It is well settled by now, and Mr. Desai quite rightly does not dispute the proposition, that mere change of opinion could not be a valid ground for reopening the assessment under section 34(1)(b) of the Act. We would accordingly uphold the answer returned by the High Court on the short ground that the reassessment for the year in question was sought to be reopened for the reason that the successor of the Income-tax Officer who had made the original assessment had changed his opinion which lid not furnish a justifiable reason for taking action under section 34(1)(b). Appeal dismissed