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of <h1>Tax assessment procedures allow requests to drop proceedings if liability includes escaped income without reopening concluded matters</h1> Section 152 of the Income Tax Act governs assessment procedures under section 147. Tax is chargeable at rates applicable when income originally escaped assessment. Assessees may request proceedings be dropped if they demonstrate assessment at amounts not lower than rightful liability, including escaped income, without reopening matters concluded under specific sections. Special provisions apply for searches, requisitions, or surveys conducted between April 2021 and September 2024, following pre-Finance Act 2024 rules. Cases with notices issued before September 2024 are governed by previous statutory provisions.
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