Section 285 - Other provisions.

Reassessment for escaped income uses rates that would have applied; proceedings dropped if original assessment already matched correct liability

In reassessment or recomputation for escaped income, tax is charged at the rate(s) that would have applied had the income been originally assessed. Proceedings opened for escaped income must be dropped if the taxpayer claims and proves that the original assessment was not lower than the correct liability even if the escaped income were included, and has not challenged any part of that original assessment under the Act's appeal provisions. A claimant who obtains such discontinuance cannot reopen matters finally concluded by specified orders under the Act.