Income escaping assessment: Assessing Officer may reassess missed income and recompute allowances even if pre notice formalities were not complied with. The substituted provision empowers the Assessing Officer to assess or reassess income that has escaped assessment and to recompute losses, depreciation and other allowances for the relevant assessment year, and the Explanation permits assessment of any issue coming to notice during those proceedings irrespective of non compliance with pre assessment notice formalities.
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.
Income escaping assessment: Assessing Officer may reassess missed income and recompute allowances even if pre notice formalities were not complied with.
The substituted provision empowers the Assessing Officer to assess or reassess income that has escaped assessment and to recompute losses, depreciation and other allowances for the relevant assessment year, and the Explanation permits assessment of any issue coming to notice during those proceedings irrespective of non compliance with pre assessment notice formalities.
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