COMMISSIONER OF WEALTH TAX WEST BENGAL vs IMPERIAL TOBACCO CO. OF INDIA LTD.

The Supreme Court held that the Tribunal's orders of reassessment under Section 16(3) read with Section 17(b) of the Wealth Tax Act were invalid as they were based solely on a change of opinion without any new 'information' as required by Section 17(b). The Court directed the Tribunal to refer the question of law regarding the interpretation of 'information' in Section 17(b) to the High Court, noting the divergence of views among High Courts on this matter. The appeal was allowed, and the Tribunal was mandated to make the necessary reference.