https://www.taxtmi.com/caselaws?id=276466 Reassessment under section 34 of the Indian Income-tax Act, 1922 was discussed in relation to limitation and the scope of the proviso to section 34(3). The text states that proceedings fell under section 34(1)(a) because there was no full and true disclosure of cash credits, so limitation ran from the end of the assessment year rather than the accounting year. It also explains that the proviso to section 34(3), as re-enacted by Act 25 of 1953, could support reassessment where appellate findings, including negative findings, showed that escaped income belonged to a different year. On that reasoning, the reassessment notices were treated as within jurisdiction and not time-barred. en-us Tue, 28 Mar 1961 00:00:00 +0530 Mon, 12 Nov 2018 15:01:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276466 Reassessment under section 34 of the Indian Income-tax Act, 1922 was discussed in relation to limitation and the scope of the proviso to section 34(3). The text states that proceedings fell under section 34(1)(a) because there was no full and true disclosure of cash credits, so limitation ran from the end of the assessment year rather than the accounting year. It also explains that the proviso to section 34(3), as re-enacted by Act 25 of 1953, could support reassessment where appellate findings, including negative findings, showed that escaped income belonged to a different year. On that reasoning, the reassessment notices were treated as within jurisdiction and not time-barred. Case-Laws Income Tax Tue, 28 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276466