This judgement covers all previous important judgements on reassessment and also clarifies all important issues and terms w.r.t reassessment namely:-

(i)reasons recorded
(ii) prima facie material,
(iii)The validity of the reopening of the assessment
(iv) application of mind by the AO
(v)The crucial link between the information and the formation of the belief should be present
(vi)The tangible material
(vii)The reopening is a potent power and should not be lightly exercised and invoked casually or mechanically.
(viii)If the original assessment is not processed under section 143(3), the proviso to section 147 will not apply.
(ix)In order to assume jurisdiction under section 147 where assessment has been made under sub-section (3) of section 143, two conditions are required to be satisfied;
(x) subjective satisfaction independently on an objective criteria.
(xi)report of the Investigation Wing might constitute the material is tangible material or not.
(xii) “tangible material”
(xiii)fishing or roving inquiry.
(xiv)The concept of “change of opinion”
(xv)The test of jurisdiction
(xvi) rumours or suspicions.
(xvii) The “full and true” disclosure of the material facts
(xviii) The word “information” in Section 147