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of <h1>Income Escaping Assessment Can Be Reassessed Under Sections 280-286 of Income Tax Bill 2025 to Prevent Revenue Loss.</h1> If any income chargeable to tax has escaped assessment for a given tax year, the Assessing Officer is authorized to assess or reassess the income, recompute losses, or adjust allowances and deductions for that year, in accordance with sections 280 to 286 of the Income Tax Bill, 2025. The officer may also address other income issues discovered during proceedings, even if certain procedural sections were not initially followed. This provision ensures that all taxable income is accurately assessed and accounted for, preventing loss of tax revenue due to oversight or error.
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