Assessment power: Assessing Officer may include newly noticed escaped issues in ongoing assessment proceedings despite omitted reasons. Explanation 3 to section 147 authorises the Assessing Officer to assess or reassess income in respect of any issue that has escaped assessment and subsequently comes to his notice during proceedings under section 147, notwithstanding that the reasons for that issue were not included in the reasons recorded under subsection (2) of section 148; the Explanation is deemed inserted with effect from the first day of April, 1989.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Assessment power: Assessing Officer may include newly noticed escaped issues in ongoing assessment proceedings despite omitted reasons.
Explanation 3 to section 147 authorises the Assessing Officer to assess or reassess income in respect of any issue that has escaped assessment and subsequently comes to his notice during proceedings under section 147, notwithstanding that the reasons for that issue were not included in the reasons recorded under subsection (2) of section 148; the Explanation is deemed inserted with effect from the first day of April, 1989.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
