https://www.taxtmi.com/caselaws?id=192456 Proceedings under section 34 of the Income-tax Act, 1922 are confined to escaped income, under-assessment, excessive relief, or recomputation of loss or depreciation allowance, and the notice fiction operates only for that limited purpose. It does not reopen the entire assessment or require a fresh determination of total income. Carry-forward of loss under section 24(2)(iii) is available only in the assessment of total income, not in a restricted section 34 proceeding. The assessee was therefore not entitled to claim loss carry-forward in such reassessment, and the referred question was answered in the negative. en-us Wed, 10 Jul 1963 00:00:00 +0530 Thu, 01 Jun 2017 17:12:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192456 Proceedings under section 34 of the Income-tax Act, 1922 are confined to escaped income, under-assessment, excessive relief, or recomputation of loss or depreciation allowance, and the notice fiction operates only for that limited purpose. It does not reopen the entire assessment or require a fresh determination of total income. Carry-forward of loss under section 24(2)(iii) is available only in the assessment of total income, not in a restricted section 34 proceeding. The assessee was therefore not entitled to claim loss carry-forward in such reassessment, and the referred question was answered in the negative. Case-Laws Income Tax Wed, 10 Jul 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192456