Assessment of escaped income: Assessing Officer may reassess issues noticed during proceedings despite absence from recorded reasons.

Amendment permits the Assessing Officer, for assessment or reassessment of escaped income, to assess income in respect of any issue that comes to his notice during the course of proceedings under the section notwithstanding that the reasons for such issue were not included in the reasons recorded under the initiating subsection; the amendment is given retrospective effect from 1st April, 1989.

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