Income escaping assessment: Assessing Officer may reassess escaped income and recompute allowances under the statutory scheme. Clause 279 empowers the Assessing Officer to assess or reassess income that has escaped assessment for a relevant tax year and to recompute losses, depreciation allowances, or other allowances or deductions; it also permits inclusion of other income issues that arise during those proceedings even if certain procedural formalities were not complied with.
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 escaped income and recompute allowances under the statutory scheme.
Clause 279 empowers the Assessing Officer to assess or reassess income that has escaped assessment for a relevant tax year and to recompute losses, depreciation allowances, or other allowances or deductions; it also permits inclusion of other income issues that arise during those proceedings even if certain procedural formalities were not complied with.
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