https://www.taxtmi.com/caselaws?id=191432 A reassessment notice issued under section 34(1) of the Income-tax Act, 1922, was stated to be time-barred where it was issued more than eight years after the relevant assessment year and the escaped income was below the statutory threshold. The text explains that the saving proviso to section 34(3) applies only when the finding or direction relates to the same assessment year, so a direction concerning another year does not remove the limitation bar. It further states that the validating provisions in the Income-tax (Amendment) Act, 1959, did not apply on the facts and timing described. en-us Fri, 11 Dec 1964 00:00:00 +0530 Mon, 03 Apr 2017 17:39:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191432 A reassessment notice issued under section 34(1) of the Income-tax Act, 1922, was stated to be time-barred where it was issued more than eight years after the relevant assessment year and the escaped income was below the statutory threshold. The text explains that the saving proviso to section 34(3) applies only when the finding or direction relates to the same assessment year, so a direction concerning another year does not remove the limitation bar. It further states that the validating provisions in the Income-tax (Amendment) Act, 1959, did not apply on the facts and timing described. Case-Laws Income Tax Fri, 11 Dec 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191432