https://www.taxtmi.com/caselaws?id=252739 The court clarified that the Assessing Officer can assess income not initially included in the reassessment notice under Explanation 3 to section 147 of the Income-tax Act. Emphasizing the empowering provision, the court upheld the validity of proceedings under section 147/148, rejecting claims of vitiation. The judgment set aside the Tribunal's decision favoring the assessee on the assessment of escaped income during reassessment, remanding for fresh adjudication. It underscored the importance of legal precedents and Explanation 3 in guiding such assessments, ultimately ruling in favor of the Revenue. en-us Thu, 17 Jul 2014 00:00:00 +0530 Sat, 01 Nov 2014 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252739 The court clarified that the Assessing Officer can assess income not initially included in the reassessment notice under Explanation 3 to section 147 of the Income-tax Act. Emphasizing the empowering provision, the court upheld the validity of proceedings under section 147/148, rejecting claims of vitiation. The judgment set aside the Tribunal's decision favoring the assessee on the assessment of escaped income during reassessment, remanding for fresh adjudication. It underscored the importance of legal precedents and Explanation 3 in guiding such assessments, ultimately ruling in favor of the Revenue. Case-Laws Income Tax Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252739