https://www.taxtmi.com/caselaws?id=190369 Income omitted from the return and books may constitute income that has escaped assessment, including where later enhancement is based on undisclosed sales. The reassessment limitation runs from the close of the assessment year after completion of the assessment, so a notice issued beyond the statutory period is time-barred. The revisional power is a separate statutory authority distinct from appellate power and may be exercised after disposal of the appeal, but only within the applicable limitation period. On that basis, the enhancement failed for limitation, while the post-appeal revisional power itself was upheld. en-us Mon, 16 Mar 1936 00:00:00 +0530 Mon, 13 Feb 2017 16:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190369 Income omitted from the return and books may constitute income that has escaped assessment, including where later enhancement is based on undisclosed sales. The reassessment limitation runs from the close of the assessment year after completion of the assessment, so a notice issued beyond the statutory period is time-barred. The revisional power is a separate statutory authority distinct from appellate power and may be exercised after disposal of the appeal, but only within the applicable limitation period. On that basis, the enhancement failed for limitation, while the post-appeal revisional power itself was upheld. Case-Laws Income Tax Mon, 16 Mar 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190369