https://www.taxtmi.com/caselaws?id=276264 Proceedings for escaped-income assessment under section 34 of the Income-tax Act, 1922 are confined to income, profits or gains that have escaped assessment and are not a fresh assessment of total income. Section 24(3) applies only in the course of assessing an assessee's total income, so the assessee cannot compel the officer to continue a section 34 proceeding merely to record a loss or grant depreciation relief where no escaped income is found. The result was that no right existed to insist on determination of loss under section 24(3) in such proceedings. en-us Wed, 18 Jan 1950 00:00:00 +0530 Sat, 03 Nov 2018 16:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276264 Proceedings for escaped-income assessment under section 34 of the Income-tax Act, 1922 are confined to income, profits or gains that have escaped assessment and are not a fresh assessment of total income. Section 24(3) applies only in the course of assessing an assessee's total income, so the assessee cannot compel the officer to continue a section 34 proceeding merely to record a loss or grant depreciation relief where no escaped income is found. The result was that no right existed to insist on determination of loss under section 24(3) in such proceedings. Case-Laws Income Tax Wed, 18 Jan 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276264