https://www.taxtmi.com/caselaws?id=277193 Section 34 of the Income-tax Act was treated as an independent reassessment machinery for bringing escaped income to tax, provided its statutory conditions were met. The absence of an appeal or revision against the earlier appellate order did not bar reopening, because that order did not create a finality that excluded the section 34 power. The court relied on its earlier similar decision and held that the reassessment was valid, so the assessed interest on arrears of rent remained taxable and the reference was answered in favour of the Revenue. en-us Mon, 07 Apr 1958 00:00:00 +0530 Wed, 28 Nov 2018 14:37:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277193 Section 34 of the Income-tax Act was treated as an independent reassessment machinery for bringing escaped income to tax, provided its statutory conditions were met. The absence of an appeal or revision against the earlier appellate order did not bar reopening, because that order did not create a finality that excluded the section 34 power. The court relied on its earlier similar decision and held that the reassessment was valid, so the assessed interest on arrears of rent remained taxable and the reference was answered in favour of the Revenue. Case-Laws Income Tax Mon, 07 Apr 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277193