https://www.taxtmi.com/caselaws?id=186015 A voluntary return filed within the four-year limitation period bars reassessment under section 34; because the assessee filed a valid voluntary return for 1954-55 before expiry of that period, reassessment and the consequent penalty were quashed. Returns filed after the four-year period do not preclude initiation of section 34 proceedings, but an assessee may elect, upon service of a valid section 34 notice, to have a previously filed late document treated as the return in response to that notice. Challenges to penalties and recovery for other years based on failure to apply the proviso on remittances were dismissed as matters of evidentiary determination. en-us Mon, 16 Apr 1962 00:00:00 +0530 Mon, 05 Sep 2016 17:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186015 A voluntary return filed within the four-year limitation period bars reassessment under section 34; because the assessee filed a valid voluntary return for 1954-55 before expiry of that period, reassessment and the consequent penalty were quashed. Returns filed after the four-year period do not preclude initiation of section 34 proceedings, but an assessee may elect, upon service of a valid section 34 notice, to have a previously filed late document treated as the return in response to that notice. Challenges to penalties and recovery for other years based on failure to apply the proviso on remittances were dismissed as matters of evidentiary determination. Case-Laws Income Tax Mon, 16 Apr 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186015