Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2009 amends Income-tax Act, allowing reassessment of undiscovered income issues retroactively from 1989.</h1> Clause 57 of the Finance (No. 2) Bill, 2009, amends section 147 of the Income-tax Act by introducing Explanation 3. This allows the Assessing Officer to assess or reassess income related to any issue that has escaped assessment and is discovered during proceedings, even if the reasons for the issue were not initially recorded under section 148(2). The amendment is retroactively effective from April 1, 1989, applying to the assessment year 1989-1990 and subsequent years.
TaxTMI 
TaxTMI 
