https://www.taxtmi.com/caselaws?id=184330 Reassessment under sections 147 and 148 may be initiated on later-discovered material indicating escapement of income, provided it is not a mere reappraisal of existing facts or change of opinion. Prior production of books or documents does not bar reopening where subsequent discovery reveals unassessed income. Labour-related payments fall within section 40(a)(ia) where they are made for contractual work or supply of labour, tax is deductible under section 194C, and tax has not been deducted or timely paid. The provision applies to oral and implied contracts, and the payer's characterisation of payees as employees does not alter the treatment of payments that are substantively contractual. en-us Thu, 28 Aug 2014 00:00:00 +0530 Wed, 06 Jul 2016 10:00:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184330 Reassessment under sections 147 and 148 may be initiated on later-discovered material indicating escapement of income, provided it is not a mere reappraisal of existing facts or change of opinion. Prior production of books or documents does not bar reopening where subsequent discovery reveals unassessed income. Labour-related payments fall within section 40(a)(ia) where they are made for contractual work or supply of labour, tax is deductible under section 194C, and tax has not been deducted or timely paid. The provision applies to oral and implied contracts, and the payer's characterisation of payees as employees does not alter the treatment of payments that are substantively contractual. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184330