https://www.taxtmi.com/caselaws?id=7918 A reassessment notice issued more than eight years after the end of the assessment year was prima facie barred by limitation under section 34(1)(a). Section 34(4) did not save the notice because the escaped income was far below the statutory magnitude required for that protection. The second proviso to section 34(3) also did not apply, as the earlier Tribunal order contained no finding that the sum represented the assessee's income and no direction against the assessee within the meaning of that proviso. The notice was therefore time-barred and not saved by either provision. en-us Mon, 20 Apr 1970 00:00:00 +0530 Tue, 24 Mar 2009 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7918 A reassessment notice issued more than eight years after the end of the assessment year was prima facie barred by limitation under section 34(1)(a). Section 34(4) did not save the notice because the escaped income was far below the statutory magnitude required for that protection. The second proviso to section 34(3) also did not apply, as the earlier Tribunal order contained no finding that the sum represented the assessee's income and no direction against the assessee within the meaning of that proviso. The notice was therefore time-barred and not saved by either provision. Case-Laws Income Tax Mon, 20 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7918