https://www.taxtmi.com/caselaws?id=7095 Reassessment under section 34(1)(a) of the Indian Income-tax Act, 1922 was confined to income that had escaped assessment and to recomputation of loss only within that limited statutory field. An assessee could not use valid reassessment proceedings to reopen the original assessment and seek recomputation of the entire loss determined earlier, merely because a larger loss had not been claimed at the original stage. The availability of rectification under section 35 reinforced that such mistakes were not meant to be corrected through section 34(1)(a). The assessee's wider recomputation claim was therefore rejected. en-us Tue, 19 Sep 1967 00:00:00 +0530 Sun, 08 Feb 2009 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7095 Reassessment under section 34(1)(a) of the Indian Income-tax Act, 1922 was confined to income that had escaped assessment and to recomputation of loss only within that limited statutory field. An assessee could not use valid reassessment proceedings to reopen the original assessment and seek recomputation of the entire loss determined earlier, merely because a larger loss had not been claimed at the original stage. The availability of rectification under section 35 reinforced that such mistakes were not meant to be corrected through section 34(1)(a). The assessee's wider recomputation claim was therefore rejected. Case-Laws Income Tax Tue, 19 Sep 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7095