https://www.taxtmi.com/caselaws?id=346509 Reassessment under sections 147 and 148 cannot be used while regular assessment proceedings are still alive and the statutory period to issue notice under section 143(2) has not expired. An intimation under section 143(1)(i) does not conclude the assessment or foreclose completion under section 143(3), so income cannot yet be treated as escaped assessment for invoking reopening. Explanation 2(b) to section 147 does not apply where a regular assessment remains available. The reassessment notice was therefore invalid in these circumstances, and the issue was decided for the assessee. en-us Wed, 12 Jul 2017 00:00:00 +0530 Thu, 17 Aug 2017 08:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346509 Reassessment under sections 147 and 148 cannot be used while regular assessment proceedings are still alive and the statutory period to issue notice under section 143(2) has not expired. An intimation under section 143(1)(i) does not conclude the assessment or foreclose completion under section 143(3), so income cannot yet be treated as escaped assessment for invoking reopening. Explanation 2(b) to section 147 does not apply where a regular assessment remains available. The reassessment notice was therefore invalid in these circumstances, and the issue was decided for the assessee. Case-Laws Income Tax Wed, 12 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346509