https://www.taxtmi.com/caselaws?id=199726 Section 13 of the Indian Income-tax Act, 1922 did not permit the revenue to shift from the accrual basis to the cash basis for the same mortgage interest source after it had long been assessed on accrual terms. Section 34 could apply only to income that had genuinely escaped assessment, so amounts already brought or capable of being brought to tax on the accrual basis for earlier years could not be taxed again as escaped income. The reassessment was therefore confined to the balance of the interest actually omitted from assessment, with the quantified adjustment to be worked out accordingly. en-us Thu, 24 Aug 1939 00:00:00 +0530 Thu, 29 Mar 2018 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199726 Section 13 of the Indian Income-tax Act, 1922 did not permit the revenue to shift from the accrual basis to the cash basis for the same mortgage interest source after it had long been assessed on accrual terms. Section 34 could apply only to income that had genuinely escaped assessment, so amounts already brought or capable of being brought to tax on the accrual basis for earlier years could not be taxed again as escaped income. The reassessment was therefore confined to the balance of the interest actually omitted from assessment, with the quantified adjustment to be worked out accordingly. Case-Laws Income Tax Thu, 24 Aug 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199726