https://www.taxtmi.com/caselaws?id=286945 Whether an income has "escaped assessment" under Section 34 was treated as the central issue: the Court adopted a broad construction of the phrase "has escaped assessment for any reason," holding that it includes income left unassessed due to a predecessor's erroneous application of the Income-tax Act. Applying that principle, the legal effect is that an Income Tax Officer has jurisdiction to reopen and revise a prior completed assessment to disallow an improperly admitted deduction and assess tax on the resultant balance where the earlier assessment resulted from an error of law or judgment. en-us Tue, 26 Feb 1935 00:00:00 +0530 Sat, 21 Mar 2020 15:10:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286945 Whether an income has "escaped assessment" under Section 34 was treated as the central issue: the Court adopted a broad construction of the phrase "has escaped assessment for any reason," holding that it includes income left unassessed due to a predecessor's erroneous application of the Income-tax Act. Applying that principle, the legal effect is that an Income Tax Officer has jurisdiction to reopen and revise a prior completed assessment to disallow an improperly admitted deduction and assess tax on the resultant balance where the earlier assessment resulted from an error of law or judgment. Case-Laws Income Tax Tue, 26 Feb 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286945