https://www.taxtmi.com/caselaws?id=7530 A reassessment under section 34 covering the assessee's total income from one composite business permitted recomputation of the whole assessable income, even though the Income-tax Officer had treated the receipts under separate transport and lorry heads. The earlier limitation on reassessment, applicable where only escaped or under-assessed income was in issue, did not control this situation because the reassessment concerned the same business as a whole. The Appellate Assistant Commissioner's enhancement of the revised income was therefore unsustainable, as it rested only on the mistaken view that the Income-tax Officer could not reduce one component while increasing another. The answer was in favour of the assessee. en-us Thu, 17 Oct 1968 00:00:00 +0530 Sat, 21 Feb 2009 20:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7530 A reassessment under section 34 covering the assessee's total income from one composite business permitted recomputation of the whole assessable income, even though the Income-tax Officer had treated the receipts under separate transport and lorry heads. The earlier limitation on reassessment, applicable where only escaped or under-assessed income was in issue, did not control this situation because the reassessment concerned the same business as a whole. The Appellate Assistant Commissioner's enhancement of the revised income was therefore unsustainable, as it rested only on the mistaken view that the Income-tax Officer could not reduce one component while increasing another. The answer was in favour of the assessee. Case-Laws Income Tax Thu, 17 Oct 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7530