https://www.taxtmi.com/circulars?id=9612 Reopening assessments under section 147 cannot be founded solely on a taxpayer's declaration of a much higher income for advance tax; established judicial principles must guide any reopening or roving inquiries. A higher advance tax estimate cannot be offset against income concealed in an earlier year, which remains assessable in that year; voluntary disclosure and application for relief from penalty and interest are the appropriate taxpayer remedies. en-us Wed, 05 Jun 1985 00:00:00 +0530 Tue, 07 Jun 2011 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9612 Reopening assessments under section 147 cannot be founded solely on a taxpayer's declaration of a much higher income for advance tax; established judicial principles must guide any reopening or roving inquiries. A higher advance tax estimate cannot be offset against income concealed in an earlier year, which remains assessable in that year; voluntary disclosure and application for relief from penalty and interest are the appropriate taxpayer remedies. Circulars Income Tax Wed, 05 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9612