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1968 (8) TMI 52 - SC - Income TaxWhether the expression " information " in the context of section 147(b) of the Income-tax Act, 1961, must mean instruction or knowledge derived from extraneous sources concerning facts or particulars or as to law relating to a matter bearing on the assessment? Held that:- When the expression " information " is understood in the sense of instruction or knowledge derived from an external source concerning facts or particulars or as to law relating to a matter bearing on the assessment, it is difficult to see how determination of valuation for the purpose of assessment of estate duty would not squarely fall within the meaning of the expression " information " in the context in which it occurs in section 59 of the Act. It has not been disputed, and can indeed not be disputed, that the provisions of section 59 are in pari materia with section 34 of the Income-tax Act, 1922, and section 147 of the Income-tax Act, 1961. The opinion expressed by the Board of Revenue, in the present case, as to valuation, was clearly " information " in the sense in which that expres. sion has been held to have been used in these enactments. The view of the High Court on this point cannot be sustained for the aforesaid reasons. The Division Bench did not decide the first point which related to the applicability of section 59 to assessments completed before the amendment Act came into force. This matter will have to go back for decision of that question. The appeal is allowed and the order of the High Court is set aside.
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