COMMISSIONER OF WEALTH TAX Vs. KEDAR NATH

JUDGEMENT

(1.) ON an application under Section 27(1) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act of 1957"), the Tribunal has referred the following questions for our opinion :

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessment of the assessee for the year under consideration is not validly reopened under Section 17(1)(b) of the Wealth-tax Act, 1957 ?"

(3.) ON relook of the same material or on audit report, the Income-tax Officer is not justified to reopen the assessment as that does not constitute "information" within the meaning of Section 147(b) of the Act. Section 17(1)(b) of the Wealth-tax Act, 1957, is corresponding to Section 147(b) of the Income-tax Act, therefore, in the same way if the Assessing Officer has allowed any claim, subsequently on the same material, he cannot reopen the assessment on the basis of mistake or change of opinion, as that does not constitute "information" within the meaning of Section 17(1)(b). Therefore, we agree with the view taken by the Tribunal that the reopening is bad.