Audit Objections Can Qualify as "Information" u/s 148A Only If AO Violated Statutory Provisions in Original Assessment: Madras HC

The Madras High Court has ruled that audit objections can qualify as "information" under Section 148A of the Income Tax Act only if the Assessing Officer violated statutory provisions in the original assessment. This clarifies the circumstances under which reassessment proceedings can be initiated based on audit reports. The court emphasized that a mere change of opinion by the audit party is not sufficient; there must be a demonstrable violation of law or facts by the Assessing Officer in the initial assessment for an audit objection to trigger reopening.